TSX Ends Marginally Down

2025-02-11 3795
(fxcue news) - After a weak start and a subsequent sharp drop, the Canadian market briefly emerged into positive territory by noon on Tuesday, but retreated a bit and stayed sluggish thereafter and eventually settled marginally down. Losses in materials, healthcare and real estate sectors pushed the market down, while a firm display by energy stocks helped limit the downside. The U.S. President Donald Trump's decision to impose 25% tariffs on steel and aluminum imports and the threat of more levies weighed on sentiment. The benchmark S&P/TSX Composite Index ended with a loss of 27.03 points or 0.11% at 25,631.83. The index, which dropped to 25,480.33 early on in the session, climbed to 25,672.90 and then stayed in a tight band. Brookfield Business Partners, Jamieson Wellness, Imperial Oil, Shopify Inc., Kelt Exploration and Suncor Energy gained 2.5 to 3.6%. Torex Gold Resources, Advantage Oil & Gas, Cenovus Energy, Air Canada, PrairieSky Royalty, MEG Energy, Vermilion Energy, BCE Inc., Stella Jones, and Keyera Corp gained 1.3 to 2.4%. Toronto-Dominion Bank (TD.TO) gained 0.8%. The bank announced that it has agreed to sell its entire equity investment in The Charles Schwab Corporation (SCHW), a financial service provider. With this, the bank will sell 165.443 million shares through a registered offering at $79.25 per share. Organigram Holdings tanked more than 17% after the company reported net loss of $22.96 million for the first quarter, higher than $15.75 million loss in the same quarter a year ago, primarily impacted by higher fair value loss recognized related to top-up-rights of British American Tobacco (BAT). Canopy Growth Corp tumbled 8%, while Ero Copper, Ballard Power Systems, Hudbay Minerals, First Quantum Minerals, BlackBerry, Ivanhoe Mines, Lundin Gold, Methanex Corp, Tilray, Aurora Cannabis, Descartes Systems Group, Celestica Inc., Teck Resources and Barrick Gold Corp. lost 2 to 6.5%. Rogers Communications Inc. ( RCI.B.TO) declined more than 1%. The company announced that it has priced a U.S. public offering of two series of US dollar denominated fixed-to-fixed rate subordinated notes with an aggregate principal amount of US$2.1 billion. Cineplex Inc (CGX.TO) reported fourth-quarter net income of $3.3 million, an increase of $12.3 million relative to the prior year net loss of $9.0 million.
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