12:13 PM EDT, 06/25/2025 (MT Newswires) -- The Toronto Stock Exchange is down 125 points with most sectors lower.

The biggest decliners are utilities and industrials, down 1.1% and 0.7%, respectively.

Healthcare, up 0.35%, is the sole gainer.

In defence news, Canada has agreed to lift its annual defence spending to 5% of annual GDP by 2035. Prime Minister Mark Carney told CNN the new 5% NATO defence target will require Canada to spend $150 billion annually.

In stocks, Blackberry (BB.TO) is up 16% to $6.86, with more than 5.5 million shares being traded, after it reported a first-quarter beat.