By Robb M. Stewart


Shares on Canada's main exchange held on to gains after the central bank opted against an eighth successive cut to interest rates, waiting instead to determine the direction of U.S. trade policy and severity of the fallout from tariffs on growth and inflation.

In Wednesday trading, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.3% higher at 24152.68 and on track for a fourth straight session of gains. Mining and energy stocks led a broad advance, moderated by weakness in the transportation and electronic-technology sectors.

Among the biggest drivers, Agnico Eagle Mines climbed 1.6% and was headed toward a record high close and Torex Gold was ahead 8.9%. Gold futures touched fresh highs as investors continue to reach for so-called safe-haven investments as uncertainty over the Trump administration's tariffs remains high.

The blue-chip S&P/TSX 60 was up 0.2% at 1447.59.

The Bank of Canada held its policy interest rate steady at 2.75%, the first pause since June, and Gov. Tiff Macklem said policymakers were trying to digest the dramatic shift in global trade policy Trump has unleashed. Macklem said officials need more clarity on how tariffs will reduce demand for Canadian exports, how quickly cost increases are passed on to consumers and how inflation expectations evolve.


Other market movers:

Metro's shares dropped 1.9% to C$99 despite the grocery retailer reporting a rise in quarterly earnings on the back of sales that came in stronger than analysts were expecting.

South Bow was 0.3% higher at C$34.07 after restarting the Keystone pipeline following last week's oil spill in North Dakota.

Orezone Gold rose 8.2% to C$1.25 after the miner said it is on track to meet its full-year production results after first-quarter production fell slightly but selling price rose.


Write to Robb M. Stewart at robb.stewart@wsj.com


(END) Dow Jones Newswires

04-16-25 1255ET