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CANADA STOCKS-TSX posts third straight monthly decline amid trade disruption
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CANADA STOCKS-TSX posts third straight monthly decline amid trade disruption
May 25, 2025 11:00 PM

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TSX ends down 0.1% at 24,841.68

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For the month, the index dips 0.3%

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Energy falls 2.3% as oil settles 3.7% lower

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Quarterly results boost Loblaw Companies

(Updates at market close)

By Fergal Smith

April 30 (Reuters) - Canada's main stock index edged

lower on Wednesday, adding to its modest monthly decline, as

investors assessed U.S. gross domestic product data for signs of

trade tariffs upending the global economy.

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

ended down 32.8 points, or 0.1%, at 24,841.68.

For the month, it was down 0.3%, its third straight monthly

decline. Still, it has rebounded 10.4% from a near eight-month

low earlier in April.

The U.S. economy contracted for the first time in three

years in the first quarter, swamped by a flood of imports as

businesses raced to avoid higher costs from tariffs and

underscoring the disruptive nature of President Donald Trump's

often chaotic trade policy.

"The disappointing (U.S.) jobs and GDP numbers this week -

they don't really reflect the effect all these tariffs have had

yet," said Michael Sprung, president of Sprung Investment

Management.

"Going forward, it doesn't appear that things are going to

get better any time soon."

Domestic data was also downbeat, showing that gross domestic

product contracted by 0.2% in February on a monthly basis as

activities across mining, oil and gas and construction sectors

shrank.

The technology sector fell 1.8%, giving back some of its

gains in recent days. Shares of e-commerce company Shopify Inc ( SHOP )

ended 4.2% lower.

Energy was down 2.3% as the price of oil settled 3.7%

lower at $58.21 a barrel on concerns that trade tensions could

erode fuel demand.

Consumer staples added 1.7%, helped by a gain of 2.5% for

the shares of Loblaw Companies Ltd after the retailer exceeded

analysts' expectations for first-quarter revenue and profit.

The interest-rate-sensitive utilities and real estate

sectors added 1% and 0.9% respectively as bond yields fell.

The Canadian 10-year yield was down 4.7 basis points at

3.087%, trading near its lowest level since April 17.

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