TSX Enjoys Moderate Gains

(MENAFN- Baystreet)
Equity markets in Toronto survived a volatile session Tuesday with only slight gains, after a promising start to the day, as energy and tech issues pointed the way higher.
The TSX progressed 37.59 points to close Tuesday at 25,279.35.
The Canadian dollar hiked 0.45 cents at 69.86 cents U.S.
On Monday, domestic investors were relieved after trump suspended steep tariffs on Mexico and Canada, agreeing to a 30-day pause in exchange for concessions on border and crime enforcement with the two neighboring countries.
The deal temporarily averted a trade war that economists warned could harm all involved economies and lead to higher consumer prices.
In corporate news, financial services company TMX Group on Tuesday reported fourth-quarter profit and revenue above estimates.
TMX shares spiked $3.77, or 8.3%, to $49.04.
Energy issues led the way upward Tuesday, with Baytex Energy collecting 14 cents, or 4.1%, to $3.54, while Mattr Corporation jumped 40 cents, or 3.5%, to $11.70.
In tech stocks, Celestica sprouted $12.92, or 7.3%, to $189.03, while Sangoma Technologies tacked on 62 cents, or 6.3%, to $10.50.
Consumer staples made the podium, too, as North West Company moved ahead $1.19, or 2.6%, to $47.27, while Jamieson Wellness shares were stronger 68 cents, or 2.1%, to $33.57.
Financial stocks let the side down, though, as BMO slid $2.63, or 1.9%, to $139.47, while Brookfield Asset Management trailed $3.03, or 3.6%, to $81.80.
Gold paled as well, with Iamgold skidding 24 cents, or 2.6%, to $9.12, while Kinross Gold doffed 23 cents, or 1.4%, to $16.44.
In utilities, Algonquin Power and Utilities gave back 11 cents, or 1.7%, to $6.42, while Fortis Inc. retreated a dollar, or 1.6%, to $61.26.
ON BAYSTREET
The TSX Venture Exchange regained 15.9 points, or 2.6%, to 636.57.
Eight of the 12 subgroups were ahead on the day. Energy stocks hiked 1.1%, while information technology sprinted 1%. Consumer staples surged 0.9%.
The four laggards were weighed most by financials, losing 0.9%, gold, down 0.7%, while utilities were off 0.4%.
ON WALLSTREET
The NASDAQ and S&P 500 moved higher on Tuesday thanks to a strong gain in Palantir, as Wall Street tries to find stable footing following the latest developments on the global trade front.
Shares in the Dow Jones Industrials climbed 134.13 points to 44,556.04.
The much-broader index corralled 43.31 points to 6,037.88
The tech-heavy NASDAQ popped 262.06 points, or 1.4%, to 19,654.01.
Palantir shares popped about 24% on fourth-quarter results that beat analyst expectations and had hit a fresh record high.
Other big tech names like Nvidia were moving in sympathy with Palantir's move higher. That stock rose nearly 3% during the session.
The Chinese government slapped tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars, effective Feb. 10.
The move comes after the U.S. agreed to pause more aggressive levies on Canada and Mexico. Prime Minister Justin Trudeau announced in a post on social media site X on Monday evening that Trump agreed to halt the implementation of tariffs against Canada for at least 30 days.
Earlier on Monday, Mexican President Claudia Sheinbaum announced that duties on Mexico imports to the U.S. would also be halted for a month.
Prices for the 10-year Treasury moved up, lowering yields to 4.51% from Tuesday's 4.54%. Treasury prices and yields move in opposite directions.
Oil prices decreased 63 cents to $72.53 U.S. a barrel.
Prices for gold gained $16.60 an ounce to $2,873.60 U.S.

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