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CANADA STOCKS-TSX slips as investors parse data; gold, tech cushion losses
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CANADA STOCKS-TSX slips as investors parse data; gold, tech cushion losses
Nov 3, 2025 7:55 AM

Nov 3 (Reuters) - Canada's main stock index slipped on

Monday as investors parsed through local economic data, while an

uptick in gold and technology stocks kept losses in check.

At 10:08 a.m. ET, Toronto's S&P/TSX composite index

was down 0.17% at 30,273.68 points.

Canada's manufacturing sector downturn eased in October as

output and new orders, which have been held back by trade

uncertainty, declined at a slower pace, Manufacturing PMI data

showed.

Fresh data on employment is due later in the week.

Over in the U.S., manufacturing contracted for an eighth

straight month in October as new orders remained subdued, PMI

data showed. The data comes as markets navigate the absence of

their usual economic benchmarks amid a government shutdown.

Meanwhile, the Federal Reserve's Austan Goolsbee said he was

"uneasy with front-loading rate cuts," in an interview with

Yahoo Finance.

Back home, gold miners rose to the top among

sectors. Tech stocks also rose 0.6%, mainly driven by

gains in Bitfarms ( BITF ) jumping nearly 12%, buoyed by

broader gains in tech stocks on Wall Street.

However, overall market gains were offset by a fall in

copper miners.

Canadian stocks closed October with modest gains, achieving

a sixth straight monthly advance, the longest streak since 2021.

"October has been a very strong month for the market.. it

does suggest a level of calm, but you do have to be careful of

complacency," said Kate Leaman, chief market analyst at

AvaTrade.

Canadian Prime Minister Mark Carney said on Saturday he

apologized to U.S. President Donald Trump over an anti-tariff

political ad, and urged Ontario Premier Doug Ford not to run it,

amid U.S.-Canada tension. The ad prompted Trump to announce

higher tariffs on Canadian goods and to halt trade talks with

Ottawa.

Teck Resources ( TECK ) lost 1.1% after activist fund

Palliser Capital intensified pressure on Rio Tinto to

mount a "now or never" counterbid for the company,

according to a letter seen by Reuters.

Air Canada ( ACDVF ) gained 1.6% ahead of its quarterly

results.

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