The TSX closed higher on Tuesday thanks to strong bank earnings outweighing weakness in the price of oil and mounting worries about U.S. President Donald Trump’s saber-rattling.
The index is down by only 0.15 per cent since Trump’s original announcement about tariffs on Canada, Mexico and China on February 1st. According to his statement on Monday, tariffs on Canada and Mexico remain “on time and on schedule” for March 4th following a 30-day pause.
Top gainers include Innergex Renewable Energy (54.76 per cent) following its acquisition by Caisse de dépôt et placement du Québec (CDPQ), Stantec (10.01 per cent) following record earnings and Bank of Montreal (4.7 per cent) driven by a robust increase in net income year-over-year.
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The NASDAQ and the S&P 500 both fell, reflecting uneasiness about near-term prospects for growth and global trade.
Top gainers include Walmart (4.29 per cent) rebounding from a tepid Q4, Linde (1.95 per cent) after increasing its dividend by 8 per cent and Costco (1.93 per cent) following higher January sales.
The Canadian dollar traded for 69.99 cents U.S. compared to 70.12 cents U.S. on Monday.
U.S. crude futures traded US$1.64 lower to US$69.06 per barrel, and the Brent contract rose US$0.08 to US$72.58 per barrel.
The price of gold was down by US$34.60 to US$2,928.60.
In world markets, the Nikkei was down by 539.15 points to 38,237.79, the Hang Seng was down 307.59 points to 23,034.02, the FTSE was up by 9.69 points to 8,668.67, and the DAX was down by 15.66 points to 22,410.27.
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(Top image, generated by AI: Adobe Stock)