like_count_tpl like_count_text_tpl
like_tooltip_tpl
comment_count_tpl comment_count_text_tpl
comment_tooltip_tpl
FX Daily Updates
TSX rises as investors eye opportunities after tariff reprieve
- TSX ends up 0.2% at 25,279.35
- Energy group adds 1.1% as oil settles off lows
- Tech gains 1%, with Celestica up 7.3%
- TMX Group jumps 8.3% after earnings beat
Feb 4 (Reuters) - Canada's main stock index rose on Tuesday, led by energy and technology shares, as investors took advantage of a recent pullback in the market that was brought about by the threat of U.S. trade tariffs.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 37.59 points, or 0.2%, at 25,279.35. That followed two straight days of declines in volatile trading since the index notched a record closing high on Thursday.
U.S. President Donald Trump suspended his threat of steep tariffs on Mexico and Canada on Monday, agreeing to a 30-day pause. The reprieve for Canada came after the market's close on Monday.
"Canada is rebounding quite nicely today," said Kevin Headland, co-chief investment strategist at Manulife Investment Management.
"Many people were selling off in anticipation of the uncertainty that tariffs might bring and now investors are looking for some of the opportunities that the brief sell-off might have presented."
The energy group was up 1.1%, helped by a gain of 4.4% for the shares of Cenovus Energy (CVE.TO) , opens new tab. U.S. crude oil futures settled down 0.6% at $72.70 a barrel but were well off their lows for the day.
Technology rose 1%, helped by a gain of 7.3% for the shares of Celestica Inc (CLS.TO) , opens new tab. Consumer staples ended 0.8% higher, with shares of dairy products producer Saputo Inc (SAP.TO) , opens new tab adding nearly 2%.
TMX Group Ltd (X.TO) , opens new tab was among the biggest advancers. Its shares rose 8.3% as the stock exchange operator reported fourth-quarter profit and revenue above estimates.
Despite the gains for TMX, heavily weighted financials fell 0.9%. Investors worry that lingering trade uncertainty could weigh on the domestic economy.
Sign up here.
https://www.reuters.com/markets/tsx-futures-fall-crude-prices-dip-us-china-trade-conflict-2025-02-04/
