By Adriano Marchese
Toronto-listed stocks were firmly higher Monday, despite President Trump's call to impose 25% tariffs on imports of steel and aluminum, including those from Canada.
Most sectors were strongly in positive territory, with the strongest gains in tech, tech services and energy. Of the few decliners, the biggest laggards were in consumer durables, health services and health tech.
Canada's S&P/TSX Composite Index rose by 0.9%, to 25661.63, and the blue-chip S&P/TSX 60 climbed 0.8%, to 1542.01.
MDA Space shares rose over 12%, to 24.60 Canadian dollars (US$17.21), the morning after the company signed a contract to become Globalstar's prime contractor for its satellite constellation for an added C$750 million. The announcement confirms the identity of a mystery client that MDA has been working with since last year that began with a C$350 million authorization-to-proceed contract.
Other market movers:
Toronto-Dominion Bank shares rose 3.3%, to C$84.54, after the bank said it would exit its 10.1% stake in Charles Schwab. The decision marks TD's first big move under new Chief Executive Raymond Chun to shore up its business following a costly money-laundering scandal.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-10-25 1225ET
