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CANADA STOCKS-TSX rises on telecom, tech boost; Trump's latest tariffs eyed
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CANADA STOCKS-TSX rises on telecom, tech boost; Trump's latest tariffs eyed
Feb 13, 2025 8:56 AM

(Updates with market opening prices)

By Ragini Mathur

Feb 13 (Reuters) - Canada's main stock index rose on

Thursday, with broad gains led by telecom and tech shares,

although U.S. President Donald Trump's recent reciprocal tariff

proposals limited the overall increase.

The S&P/TSX composite index was up 0.2% at

25,618.60.

A majority of subsectors were trading higher, led by capped

communication jumping 1.7%, helped by a 3.7% rise in

Telus ( TU ) after the communications technology company's

fourth-quarter revenue beat market expectations.

Technology also led the charge with a 1.7% jump,

boosted by e-commerce company Shopify's 3.7% gain.

Canada's 10-year benchmark yield eased, tracking

the U.S. counterpart, helping utilities and real

estate add 1.2% and 0.8%, respectively.

However, Donald Trump's plan to unveil reciprocal tariffs on

Thursday afternoon kept investors on edge.

"We're going to be seeing a lot more volatility and

uncertainty continuing in the market and I think everyone is

walking on egg shells to try to figure out what is going to

happen here," said Shiraz Ahmed, senior portfolio manager and

founder of Sartorial Wealth at Raymond James as he referenced

Trump's plans on reciprocal tariffs.

Financials declined 0.5%, dragged by Sun Life

Financial ( SLF ) falling 8.3% to the bottom of the TSX after

Canada's second-largest life insurer fourth-quarter profits

missed expectations.

Kinross Gold ( KGCRF ) shed 6.2% after the company reported

fourth-quarter results, pulling the materials group

down 0.6%.

Stateside, Wall Street main indexes moved higher on Thursday

as investors parsed the latest producer prices data that rose

slightly more than expected, suggesting inflation was picking up

again.

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