(Updates with morning prices)
By Twesha Dikshit and Sukriti Gupta
July 9 (Reuters) - Canada's main stock index inched up
on Wednesday, buoyed by real estate shares, with investors on
the lookout for trade and tariff updates.
Toronto's S&P/TSX index advanced 0.1% to 26,938.86
points, after falling for two straight days.
U.S. President Donald Trump on Tuesday announced steep
copper tariffs and threatened to slap levies on semiconductors
and pharmaceuticals, broadening the trade war that has affected
markets worldwide.
Trump also postponed the deadline for tariff deals to August
1.
Meanwhile, domestic government data showed that Canadian
companies have boosted trade with other allies, including
smaller markets, in a bid to minimize economic damage from U.S.
tariffs.
The announcements related to trade negotiations will
continue to "cause movements in the market in the short term,"
said Verecan Capital Management CEO and portfolio manager Colin
White.
"The information that's going to come up this month with
regards to jobs will be very instructive on what we can hope to
expect over the next couple of months."
Investors will closely assess key Canadian jobs data,
due on Friday, to gauge how the economy is holding up under
tariff-related pressures.
Technology shares rose 0.4% on Wednesday, while
healthcare shares added 0.7%.
Real estate stocks gained 0.5%, with H&R
rising 4.7% after the Globe and Mail reported that
asset manager Blackstone and U.S. equity funds were in talks to
buy the company's assets.
Conversely, energy shares fell 0.4%, while
mining shares were flat.
Copper prices dipped. Miners Ero Copper ( ERO ) and
Capstone Copper ( CSCCF ) declined 6.2% and 2.5%, respectively.
EQB rose 1.6% after the lender said former finance
head Chadwick Westlake will return as its CEO, just months after
he left to become the chief financial officer at software firm
OpenText. Shares of OpenText fell 4.8%.