This week, Canada’s main stock index, the TSX, experienced significant volatility, plunging over 300 points at the start of the trading week on Monday. Traders are avoiding risks due to ongoing concerns about the global trade war. Former central banker Mark Carney emerged victorious in the Liberal Party leadership race and will succeed Justin Trudeau as Prime Minister.
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Following its four-month low to start the week, the TSX continued its downward trend. President Donald Trump’s constantly changing tariffs on major trade partners like Canada and Mexico have raised the risk of recession for all three North American nations.
However, the index saw gains on Wednesday as investors reacted to the latest developments in the ongoing trade war. The Canadian government imposed retaliatory tariffs worth C$29.8 billion in response to US President Donald Trump’s increased levies on steel and aluminum imports, which took effect the same day. This move followed Trump’s decision on Tuesday to retract plans to double trade duties on Canadian steel and aluminum products.
In response to these economic pressures, the Bank of Canada reduced its benchmark interest rate by 25 basis points, marking the seventh consecutive cut and bringing the policy rate to 2.75 percent.
Baytex and Gibson partnership
Baytex Energy (TSX:BTE, Forum) and Gibson Energy (TSX:GEI, Forum) announced a partnership in the Pembina Duvernay and the execution of a long-term take-or-pay agreement. This partnership will see Gibson advance its liquids infrastructure strategy in support of the development of Baytex’s growing Pembina Duvernay asset.
Under the initial 10-year agreement, Gibson will invest approximately C$50 million in capital expenditures and receive an area of dedication and established return on investment that aligns with Gibson’s target build multiple. Baytex will construct the infrastructure and have operating responsibility for the term of the agreement. This partnership aims to develop infrastructure, driving long-term value for both parties, expanding Gibson’s liquids infrastructure footprint, and increasing committed volumes to its core Edmonton terminal. Construction has commenced and is expected to be completed by Q4 2025.
Baytex Energy opened Thursday 0.32 per cent higher at C$3.09, but has fallen 29.55 per cent since this time last year.
Tilray Medical launches Tilray Craft in Germany
Tilray Medical, a division of Tilray Brands (TSX:TLRY, Forum), has introduced Tilray Craft, a new brand extension within its medical cannabis portfolio in Germany. Tilray Craft is being introduced to address the evolving needs of patients in Germany for flower-based medical cannabis. The brand aims to offer unique flower options that are not currently available in the market, particularly targeting patients who require medical cannabis flower with higher THC and higher terpene content derived from novel genetic lineages.
The latest product introduced under the Tilray Craft brand is Cannabisblüten THC 25 TAM.
Product details include:
- Strain: Triangle Mints
- Terpene content: 2.9 per cent
- Type: Sativa-leaning hybrid
- Genetics: Cross of Triangle Kush and Animal Mints
- Flavour profile: Herbal, spicy, and earthy with diesel undertones
Tilray Craft’s medical cannabis products, including Cannabisblüten THC 25 TAM, are now available across Germany with a physician’s prescription at pharmacies.
Tilray stock opened 2.17 per cent lower on Thursday at $0.90 and has lost 58.72 per cent since March 2024.
Bombardier’s Global 7500 sets 100th speed record
Bombardier (TSX:BBD, Forum) has announced that its Global 7500 business jet has set its 100th speed record. The aircraft achieved this milestone by averaging almost 1,000 km/h on a flight from San Luis Obispo to London. This accomplishment is impressive, considering the aircraft surpassed the 75-record mark only in November and previously achieved an 8,225 nautical mile flight from Sydney to Detroit, representing the longest flight in the history of business aviation.
The Global 7500 offers a top speed of Mach 0.925 and a baseline range of 7,700 nautical miles. It features four living spaces, a full-size kitchen, and a dedicated crew suite, in addition to unique amenities, including a seat with the industry’s first zero-gravity position and Bombardier’s Smooth FlĕxWing aerodynamic enhancement technology. This technology boosts performance, reduces fuel burn, improves safety, and decreases turbulence through an advanced slats and flap system.
With more than 200 Global 7500 jets in service, clocking in more than 220,000 flying hours to date, Bombardier plans to push its capabilities further with its upcoming Global 8000 jet. The new model is expected to enter into service in 2025 and achieve a top speed of Mach 0.94, an industry-leading range of 8,000 nautical miles, and a low cabin altitude of less than 884 metres when flying at 12,497 metres.
Bombardier stock opened trading 0.93 per cent lower at C$81.75 a share but has risen 52.40 per cent since this time a year ago.
The best defence is a good portfolio
Investors should keep a close eye on these developments and deepen their due diligence to ensure their portfolios are up to date in these tumultuous times. The TSX’s performance this week highlights the importance of staying informed and adaptable in the face of global economic pressures.
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(Top image generated with AI.)