Canada’s main stock index edged down on Thursday in volatile trading, as investors remained risk-averse amid an intensifying trade war with the United States.
The TSX Composite Index declined 37.29 points to 24,385.02
The Canadian dollar docked 0.11 cents to 69.53 cents U.S.
Alimentation Couche-Tard’s founder said the retailer could bolster its $47-billion offer for Seven & I if the Japanese firm became more cooperative and shared its financial information in greater detail.
Couche-Tard shares ditched 77 cents, or 1.1%, to $68.85.
Birchcliff Energy jumped 58 cents, or 10.9%, the biggest individual gainer on the TSX, to $5.88, after it updated its annual average production outlook.
Just one item on the economic calendar this Thursday. In January, the total value of building permits issued in Canada decreased by $425.8 million (-3.2%) from the previous month to $12.8 billion.
ON BAYSTREET
The TSX Venture Exchange tacked on 2.88 points to 616.86.
Seven of the 12 TSX subgroups were higher mid-morning, as gold shone brighter 2.1%, while materials forged ahead 1.8%, and energy rumbled 0.4%.
The five laggards were weighed most by information technology, down 2.1%, health-care, sliding 1.7%, and consumer staples, off 0.8%.
ON WALLSTREET
Stocks slipped on Thursday as investors digested the latest tariff threats from President Donald Trump, while they pored through new U.S. inflation figures.
The Dow Jones Industrials dropped 162.59 points to 41,188.24
The S&P 500 sank 24.46 points to 5,574.83.
The NASDAQ stumbled 135.83 points to 17,512,62
Trump took to his Truth Social platform to threaten 200% tariffs on all alcoholic products coming from countries in the European Union in retaliation for the bloc’s 50% tariff on whisky. “This will be great for the Wine and Champagne businesses in the U.S.,” he wrote.
Worries over U.S. trade policy have hurt stocks this week.
The S&P 500 and NASDAQ are respectively on track for losses of 3.3%and 3.7% this week. The Dow is off 3.6% in the period, heading for its worst week since March 2023. The broad market index briefly dipped into correction territory on Tuesday, down 10% from a record set in February.
However, investors got more encouraging inflation data Thursday. February’s producer price index — which measures the cost of producing consumer goods and is a good indicator of inflationary pressures — was flat that month, compared with an expected increase. This, alongside a softer-than-expected February consumer price index reading, may have helped ease traders’ concerns about the direction of the economy and the impact tariffs could have on inflation.
Prices for the 10-year Treasury were unchanged Thursday, keeping yields at Wednesday’s 4.32%.
Oil prices skidded 36 to $67.32 U.S. a barrel.
Prices for gold leaped $35.80 an ounce to $2,982.60 U.S.
