TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns

RTTNews | Pred 10 h 51 min

(RTTNews) - After posting a record close the previous day, the Canadian market opened marginally up and edged higher Friday morning, but kept losing ground as the day progressed with stocks from across several sectors reeling under selling pressure as Trump administration confirmed that it would begin imposing 25% tariffs on imports from Canada from February 1.

U.S. President Donald Trump reportedly said today that nothing can be done by Canada, Mexico and China to forestall tariffs and said that tariffs on oil and gas are likely by Feb. 18.

The benchmark S&P/TSX Composite Index ended with a loss of 275.15 points or 1.07% at 25,533.10. The index gained 0.25% in the week.

Energy, consumer discretionary, healthcare, materials and industrials shares were among the major losers.

Imperial Oil (IMO.TO) tumbled 6.6%. The company reported that fourth-quarter net income declined to C$1.23 billion or C$2.37 per share from C$1.37 billion or C$2.47 per share in the prior-year quarter. Total revenues and other income for the quarter decreased to C$12.61 billion from C$13.11 billion in the same quarter last year.

Molson Coors Canada (TPX.A.TO) plunged 9%. Finning International (FTT.TO) closed down 6.5%. Propel Holdings (PRL.TO), BRP Inc (DOO.TO), MTY Food Group (MTY.TO), Russel Metals (RUS.TO), Magna International (MG.TO) and Linamar Corporation (LNR.TO) lost 4 to 5.1%.

TFI International (TFII.TO), goeasy (GSY.TO), Rogers Communications (RCI.B.TO), Toromont Industries (TIH.TO), Bombardier Inc (BBD.B.TO), Enbridge Inc (ENB.TO) and Docebo Inc (DCBO.TO) closed down 2 to 4%.

Celestica Inc (CLS.TO) climbed more than 8%. Boralex (BLX.TO), Northland Power (NPI.TO), VersaBank (VBNK.TO), Endeavour Mining (EDV.TO) and Quebecor Inc (QBR.TO) also closed notably higher.

Data from Statistics Canada showed Canadian real gross domestic product decreased 0.2% in November. According to preliminary estimates, the economy rebounded in December and GDP likely grew 0.2%.

German Inflation Unexpectedly Eases In January

Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.

RTTNews | Pred 13 h 47 min

Swiss Markets Ends Slightly Weak

The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.

RTTNews | Pred 14 h 57 min

Major European Markets Close Slightly Higher

European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up. Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.

RTTNews | Pred 15 h 12 min

Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.

RTTNews | Pred 16 h 33 min

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.

RTTNews | Pred 16 h 42 min

ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.

RTTNews | Pred 16 h 51 min

Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.

RTTNews | Pred 18 h 50 min

U.S. Consumer Price Growth Matches Estimates In December

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.

RTTNews | Pred 18 h 58 min

EURUSD	1.03759	GBPUSD	1.24011	AUDUSD	0.62174
USDJPY	155.086	USDCAD	1.45225	USDCHF	0.91047