Canada’s main stock index edged down on Thursday in volatile trading, as investors remained risk-averse amid an intensifying trade war with the United States.
The TSX Composite Index declined 158.79 points to 24,264.55.
The Canadian dollar docked 0.20 cents to 69.43 cents U.S.
Alimentation Couche-Tard’s founder said the retailer could bolster its $47-billion offer for Seven & I if the Japanese firm became more cooperative and shared its financial information in greater detail.
Couche-Tard shares ditched $1.06, or 1.5%, to $68.56.
Birchcliff Energy jumped 45 cents, or 8.5%, the biggest individual gainer on the TSX, to $5.75, after it updated its annual average production outlook.
Just one item on the economic calendar this Thursday. In January, the total value of building permits issued in Canada decreased by $425.8 million (-3.2%) from the previous month to $12.8 billion.
ON BAYSTREET
The TSX Venture Exchange tacked on 3.14 points to 617.12.
All but two of the 12 TSX subgroups were lower early in the afternoon, with health-care and information technology each hurtling lower 2.4%, while consumer discretionary stocks were off 1.5%.
The two gainers were gold, up 2.5%, and materials, picking up 2.3%.
ON WALLSTREET
Stocks fell on Thursday, with equities unable to shake a three-week market rout under the weight of new tariff threats from President Donald Trump.
The Dow Jones Industrials cratered 429.58 points, or 1%, to 40,921.34, its fourth day of declines.
The S&P 500 sank 59.95 points, or 1.1%, to 5,539.35, and was inches away from a 10% decline from its record close in February, known as a correction on Wall Street.
The NASDAQ stumbled 249.91 points, or 1.6%, to 17,368.54, with shares in Tesla and Apple lower.
Trump took to his Truth Social platform to threaten 200% tariffs on all alcoholic products coming from countries in the European Union in retaliation for the bloc’s 50% tariff on whisky. “This will be great for the Wine and Champagne businesses in the U.S.,” he wrote.
Worries over U.S. trade policy have hurt stocks this week.
The S&P 500 is set to lose 3.3% this week, while the NASDAQ is on track for a loss of 3.7% this week. The Dow is off 3.6% in the period, heading for its worst week since March 2023.
However, investors got more encouraging inflation data Thursday. February’s producer price index — which measures the cost of producing consumer goods and is a good indicator of inflationary pressures — was flat that month, compared with an expected increase. This, alongside a softer-than-expected February consumer price index reading, may have helped ease traders’ concerns about the direction of the economy and the impact tariffs could have on inflation.
Prices for the 10-year Treasury were slightly higher early Thursday afternoon, lowering yields to 4.31% from Wednesday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices skidded 61 to $67.62 U.S. a barrel.
Prices for gold leaped $44.60 an ounce to $2,991.42 U.S.
