Canada’s main stock index struggled into positive country on Monday, despite being hurt by information technology and health-care shares, as investors remained risk-averse ahead of potential U.S. tariffs.
The TSX Composite Index ground its way into the green by Monday’s close, picking up 4.23 points to 25,151.26
The Canadian dollar shed 0.26 cents to 70.10 cents U.S.
This week, Canada and Mexico are expected to intensify discussions to avoid 25% tariffs on their exports to the U.S., aiming to convince President Donald Trump’s administration that their efforts to enhance border security and curb fentanyl trafficking are effective, ahead of a March 4 deadline.
In corporate news, Britain’s National Grid has reached a deal to sell its U.S. onshore renewables business to investment firm Brookfield Asset Management for $1.74 billion including debt. Brookfield shares weakened 48 cents to $82.83.
Among individual stocks, Calibre Mining was among the worst performers on TSX, down 13 cents, or 4.2%, to $2.96 after mid-tier gold producer Equinox Gold on Sunday said it would buy all outstanding shares of the mining company.
Consumer staples spearheaded gainers, with Metro progressing $3.07, or 3.3%, to $95.80, while George Weston jumped $4.20, or 2%, to $221.76.
In consumer discretionary stocks, Dollarama surged $4.33, or 3%, to $147.61, while Restaurant Brands gathered $2.56, or 2.9%, to $91.18.
In telecoms, Cogeco Communications skyrocketed $1.85, or 2.8%, to $67.02, while Quebecor hiked 68 cents, or 2.1%, to $33.18.
Health-care stocks didn’t have it so good, though, as Bausch Health Companies withered 18 cents, or 1.7%, to $10.23, while Tilray was battered 14 cents, or 10.4%.
In energy, Baytex Energy doffed six cents, or 1.7%, to $3.39, while Canadian Natural Resources lost 80 cents, or 1.9%, to $41.86.
Utilities suffered, too, as Brookfield Renewable Partners L.P. shed 82 cents, or 2.5%, to $32.52, while Innergex Renewable docked 22 cents, or 2.5%, to $8.73.
ON BAYSTREET
The TSX Venture Exchange faded 7.86 points, or 1.2%, to 626.83.
The 12 subgroups were evenly split between gainers and losers. Consumer staples climbed 2.2%, consumer discretionary stocks gained 1.8%, and telecoms took on 0.9%.
The half-dozen laggards were weighed most by health-care, ailing 2.5%, energy tailing off 0.8%, while utilities lost 0.5%.
ON WALLSTREET
The S&P 500 fell Monday as the market failed to bounce back from Friday’s steep selloff.
The Dow Jones Industrials fought their way ahead 33.19 points to conclude Monday at 43,461.21.
The much-broader index let go of gains and lost 29.88 points to 5,983.25
The NASDAQ Composite collapsed 237.08 points, or 1.2%, to 19,286.92.
Shares of major tech companies came under pressure, leading the NASDAQ lower on the day and briefly into negative territory for 2025.
Palantir tumbled 10%, pulling the NASDAQ lower. Microsoft shed about 1% after an analyst report from TD Cowen said the company is cutting spending on data centers, raising fears of weakness in the artificial intelligence trade.
Chipmaking giant Nvidia pulled back 1.5%.
The week ahead includes key readings on corporate earnings and the economy. Earnings reports from Home Depot on Tuesday and Lowe’s on Wednesday will give investors a better sense of how U.S. consumers are faring. Nvidia’s earnings report on Wednesday evening could be even more impactful, as the artificial intelligence-linked chipmaker is still one of the biggest stocks by market cap.
Prices for the 10-year Treasury gained slightly, lowering yields to 4.40% from Friday’s 4.43%. Treasury prices and yields move in opposite directions.
Oil prices added 50 cents to $70.90 U.S. a barrel.
Prices for gold revived $12.70 an ounce to $2,965.90 U.S.
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