(fxcue news) - The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors. Worries about imminent tariffs by Trump administration limited the market's upside. The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06. Innergex Renewable Energy shares skyrocketed nearly 55% after the company announced that it has signed a definitive agreement that will see investment group CDPQ acquire all of its issued and outstanding common shares, other than those held by CDPQ and certain members of senior management, for $13.75 per share in cash. Maple Leaf Foods zoomed nearly 11% on turnaround results. The company posted earnings of $54 million for the fourth-quarter, as against a loss of $9 million in the fourth-quarter of the previous year. Stantec gained 10% after reporting higher earnings. The company said it posted adjusted net income of $126.2 million, or $1.11 per share for the fourth-quarter, compared to $91.4 million, or $0.82 per share, recorded in the previous quarter. Bank of Montreal surged 4.75% after the lender reported adjusted net income of C$2.29 billion or C$3.04 per share for the three months ended January 31, 2025, compared with C$1.89 billion, or C$2.56 per share, a year earlier. The bank's provision for credit losses jumped to C$1.01 billion in the quarter from c$627 million a year earlier. Boralex closed stronger by about 7.5%. Northland Power, Bausch Health Companies, Loblaw Companies and Nutrien climbed 3 to 6%. George Weston, South Bow, Canadian Tire Corporation, TFI International, Colliers International, Manulife Financial, FirstService, CCL Industries, Stella-Jones, Empire Company, Brookfield Renewable and TerraVest Industires gained 2 to 3%. Spin Master Corp ended down 10.4%. BlackBerry closed lower by 8.4%, while Baytex Energy and Bombardier Inc. ended down 5.9% and 5.4%, respectively. Birchcliff Energy, Enerflex, Equinox Gold, Kelt Exploration, NuVista Energy, Tilray, Calibre Mining and CES Energy lost 4 to 4.5%. On the economic front, data from Statistics Canada said manufacturing sales in Canada likely rose 2% month-over-month in January, following a 0.3% rise in December, according to preliminary estimates.