financetom
World
financetom
/
World
/
CANADA STOCKS-TSX muted as focus shifts from Carney's victory back to trade war
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX muted as focus shifts from Carney's victory back to trade war
May 25, 2025 10:41 PM

(Updates with morning prices)

By Sanchayaita Roy and Sukriti Gupta

April 29 (Reuters) - Canada's main stock index was

subdued in choppy trading on Tuesday, as cautious investors

moved on from the country's elections to focus on the potential

economic impact of a global trade war triggered by U.S.

President Donald Trump's tariffs.

Toronto Stock Exchange's S&P/TSX composite index

was down 0.02% at 24,796.55 points.

The market reaction was muted to Prime Minister Mark

Carney-led Liberals securing a victory without an outright

majority in Canada's parliamentary elections, which had centered

on Trump's tariffs on its northern neighbor.

"The elections aren't having much of an effect on stock

markets", said Allan Small, senior investment advisor at Allan

Small Financial Group with iA Private Wealth.

The election was closely watched for how it could shape

Canada's policy in the trade war with U.S., but now focus has

moved back to Trump's policies.

"Investors welcome clarity yet fear Trump's trade war

impacting Canada's economy," said Graham Priest, investment

advisor at BlueShore Financial.

On Tuesday, U.S. Treasury Secretary Scott Bessent predicted

that China could lose 10 million jobs quickly due to tariffs,

and added that the "onus" would be on Beijing, hitting hopes

that the world's two largest economies could make progress on

easing their escalating trade war.

Canada's auto parts suppliers may get a boost from U.S.

official's comments that Trump will sign an executive order on

Tuesday to soften the impact of his automotive tariffs.

On TSX, capped communication stocks led the

gains, up 1%, with BCE Inc ( BCEXF ) topping the index, with a

1.5% rise.

On the flip side, heavyweight energy shares fell

0.8%, as oil prices fell to near a two-week low.

Metal mining shares fell 0.3%, as gold prices

slipped on signs of easing tensions in the U.S.-China trade

dispute.

More economic data are on the radar this week, with

investors' focus on corporate earnings from many of the

magnificent seven companies of the world.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CANADA STOCKS-TSX set for losses as trade tensions overshadow banks results
CANADA STOCKS-TSX set for losses as trade tensions overshadow banks results
Feb 27, 2025
(Updates after markets open) By Ragini Mathur Feb 27 (Reuters) - Canada's main stock index struggled to find direction on Thursday as escalating global trade tensions fueled risk-aversion, with strong bank earnings failing to boost market sentiment. The S&P/TSX composite index was down 0.08% at 25,309.9, following three consecutive sessions of gain. Markets are going to be in very uncertain...
European Equities Traded in the US as American Depositary Receipts Lower in Thursday Trading
European Equities Traded in the US as American Depositary Receipts Lower in Thursday Trading
Feb 27, 2025
11:07 AM EST, 02/27/2025 (MT Newswires) -- European equities traded in the US as American depositary receipts were trending lower late Thursday morning, declining 0.49% to 1,416.32 on the S&P Europe Select ADR Index. From continental Europe, the gainers were led by internet browser company Opera (OPRA) and biopharmaceutical company Grifols ( GRFS ) , which rose 6% and 5.7%...
German government bond yields fall to 2-week lows
German government bond yields fall to 2-week lows
Feb 27, 2025
LONDON, Feb 27 (Reuters) - German government bond yields fell to a two-week low on Thursday, pulled down by concerns about the bloc's economy. Germany's 10-year bond yield, the benchmark for the euro zone bloc, fell to 2.412%, the lowest since February 11, and was last down 2 basis points (bps) at 2.42%. Yields move inversely to prices. European stocks...
Top Midday Stories: Trump Says Canada, Mexico Tariffs to Take Effect March 4; Nvidia Shares Down Despite Earnings Beat
Top Midday Stories: Trump Says Canada, Mexico Tariffs to Take Effect March 4; Nvidia Shares Down Despite Earnings Beat
Feb 27, 2025
11:56 AM EST, 02/27/2025 (MT Newswires) -- The Nasdaq Composite was down around midday trading Thursday after Nvidia ( NVDA ) released its highly anticipated earnings results late Wednesday. President Donald Trump said Thursday on Truth Social that the proposed tariffs on Canada and Mexico will go into effect on March 4. Trump also said China would be charged an...
Copyright 2023-2025 - www.financetom.com All Rights Reserved