Canada’s main stock index was little changed amid choppy trading on Thursday, as investors evaluated a mixed set of quarterly earnings from some of the major domestic companies.
The TSX faded 22.36 points to break for lunch Thursday at 25,547.45.
The Canadian dollar eked up 0.02 cents at 69.86 cents U.S.
Bombardier reported a 1.5% rise in quarterly revenue on aftermarket business strength and delayed its 2025 forecast, citing uncertainty related to U.S. President Donald Trump’s tariffs. Bombardier shares doffed $2.17, or 2.6%, to $82.54.
Suncor Energy surpassed analysts’ expectations for fourth-quarter profit, benefiting from increased oil production and robust sales of refined products. Shares in Suncor grabbed 18 cents to $55.62.
Canada Goose Holdings missed quarterly revenue estimates, signaling choppy sales in the key luxury goods market China. Canada Goose shares lost 82 cents, or 5.4%, to $14.44.
The consumer discretionary sector rose buoyed by a rise of $1.80, or 2.6%, in clothing company Aritzia’s shares to $70.06.
Thomson Reuters’ shares climbed $14.16, or 6% to the top of the TSX at $251.73, after it reported higher fourth-quarter revenue and issued 2025 organic revenue growth targets that could exceed the rate in 2024.
The real estate sector fell, dragged down by Colliers International’s fall of $19.47, or 9.5%, to $188.77 after the firm missed fourth-quarter profit estimates.
Economically speaking, the IVEY School of Business presented its Purchasing Managers Index for January. The index backed off sharply last month to 47.1 from 54.7 in December and from 56.5 in January 2024.
ON BAYSTREET
The TSX Venture Exchange dropped 3.18 points to 638.77.
All but three of the 12 subgroups lost ground in by midday, weighed most by communications, losing 2.7%, information technology, off 1.9%, and real-estate, skidding 1.5%.
The three gainers were financial, up 0.6%, industrials, 0.5 more sturdy, and consumer discretionary, up 0.3%.
ON WALLSTREET
The S&P 500 moved higher on Thursday after the major averages posted back-to-back winning sessions, as investors weighed the latest batch of corporate earnings.
The Dow Jones Industrials lost 74.67 points to 44,798.65.
The much-broader index took on 14.26 points to 6,075.74
The tech-heavy NASDAQ acquired 38.43 points to 19,730.76
Semiconductor names slid, with Qualcomm and Arm declining 5% and 7%, respectively. Skyworks Solutions lost 25% after reporting their latest quarterly results. Ford Motor also fell 4% after the automaker forecast a difficult 2025.
Honeywell shares were also down 4%, dragging the Dow lower, after the company issued full-year earnings guidance that fell short of what analysts anticipated. The company also announced it would split into three companies.
By contrast, Philip Morris shares surged 8% on the heels of the international tobacco company reporting better-than-expected earnings and revenue for the fourth quarter. The gain put the stock on track for a record high close.
Prices for the 10-year Treasury eased a bit, raising yields to 4.45% from Wednesday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices poked ahead 12 cents to $71.20 U.S. a barrel.
Prices for gold fell $15.50 an ounce to $2,877.50 U.S.
