TSX Enjoys Moderate Gains
Torex, Premium Brands in Focus
Equities in Toronto had, if not spectacular gains, at least respectable enough to show the recent win streak was continuing, amid uncertainty over the tariff environment emanating from the Trump White House.
The TSX Composite Index gained 35.4 points to conclude Tuesday at 25,339.51
The Canadian dollar picked up 0.17 cents to 70.02 cents U.S.
U.S. President Donald Trump on Monday suggested that not all proposed levies would be enforced by April 2, with some countries potentially receiving exemptions.
Copper prices edged up as markets monitored the metal's movement to the U.S. due to potential tariff issues. However, a stronger dollar limited the gains.
Shares in Dundee Precious Metals gained 36 cents, or 2%, to $18.80.
Elsewhere, NGEX surged 70 cents, or 7.3%, to $38.50, while Lundin Mining gained 39 cents, or 3%, to $13.26.
In gold stocks, Torex Gold Resources traveled $2.63, or 7.3%, higher, while Sandstorm Gold jumped 70 cents, or 7.1%, to $10.52.
Consumer staples also scored big, with Premium Brands higher $2.89, or 3.7%, to $82.11, while Loblaw Companies popping $3.07, or 1.6%, to $195.80.
Health-care stocks did not fare so well, though, with Bausch Health Companies off 36 cents, or 3.5%, to $10.06, while Tilray gave back a penny, or 1%, to 97 cents.
In real-estate, StorageVault docked seven cents, or 1.7%, to $3.96, while FirstService tumbled $4.27, or 1.7%, to $244.41.
In consumer discretionary issues, Jamieson Wellness lost five cents, or 0.2%, to $29.53, while Empire Company deducted three cents to $46.35.
ON BAYSTREET
The TSX Venture Exchange hung onto gains of 2.87 points to 646.63.
Seven of the 12 TSX subgroups gained ground Tuesday, led by gold, stronger by 1.3%, consumer staples, climbing 0.9%, while materials progressed 0.7%.
The five laggards were weighed most by health-care, sliding 0.8%, while real-estate weakened 0.7%, and consumer discretionary stocks, off 0.3%.
ON WALLSTREET
The S&P 500 posted a slim gain on Tuesday as investors built on the previous session’s gains, which were largely sparked by hopes of U.S. tariffs being narrower in scope.
The Dow Jones Industrials eked out gains of 4.18 points to 42,587.50.
The S&P 500 Index grabbed 9.08 points to 5,776.65
The NASDAQ hiked 83.26 points to 19,271.85
Investors largely looked past the March consumer confidence data released Tuesday, which reflected a significant drop in U.S. consumers’ near-term outlook on income, business, and job conditions.
The Conference Board’s monthly confidence index fell to 92.9, below a Dow Jones forecast of 93.5. The measure for future expectations dropped to 65.2, the lowest reading in 12 years and well below the 80 level considered to be a signal for a recession ahead.
Wall Street has been on edge recently over a potential uptick in inflation and slowing economic growth as it awaits President Donald Trump’s reciprocal tariffs expected on April 2. Investors got a reprieve Monday on news that on reports that the White House may narrow the scope of tariffs going into effect.
Trump later told the press that he “may give a lot of countries breaks” on reciprocal tariffs. He added that duties on certain sectors, such as pharmaceuticals and autos, would still be coming in the “near future.”
Prices for the 10-year Treasury inched higher Tuesday, lowering yields to 4.32% from Monday’s 4.33%. Treasury prices and yields move in opposite directions.
Oil prices squeezed higher three cents to $69.14 U.S. a barrel.
Prices for gold jumped $9.80 an ounce to $3,025,40 U.S.
