By Robb M. Stewart
Shares on Canada's main exchange were tracking gains on Wall Street as investors came to terms with U.S. President Donald Trump's return to the White House and a flood of first-day executive orders.
In midday trading Tuesday, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.4% higher at 25260.90. Technology and finance stocks led gains, countering weakness in the energy sector.
The blue-chip S&P/TSX 60 was ahead 0.5% at 1516.40.
Among heavily weighted names, Constellation Software was up 0.7% at C$4,391.95. Bombardier fell 5.7% to C$89.14 as the shares remain volatile ahead of possible U.S. tariffs on imports from Canada.
On the day of his inauguration Monday, Trump repeated his pledge to impose a 25% tariff on all imports from Canada and Mexico. While the president didn't lay out concrete plans on levies against America's neighbors or universally, he did say the tariffs against Canadian and Mexican goods could begin Feb. 1.
The trade uncertainty and further easing in Canadian inflation to end last year has many economists expecting a further cut in interest rates when Bank of Canada officials meet next week. The consumer price index fell 0.4% as expected in December, as a temporary federal government sales-tax break kicked off, and inflation eased to 1.8% on an annual basis.
Other market movers:
Goodfood Market's shares rose 4.2% to C$0.50 after the online meal company posted a narrower loss for its fiscal first quarter but a 14% fall in sales.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
01-21-25 1312ET