Canada Stocks: TSX ends lower as oil price drop pressures energy shares

BlackBerry

12/02/2025 21:20

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      TSX ends down 0.3% at 25,563.11
    

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      Energy falls 2.2%; oil settles 2.7% lower
    

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      Materials group rises 1.2%
    

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      Barrick Gold adds 6.3% after profit beat
    

  
 (Updates at market close)
    By Ragini Mathur and Fergal Smith
       Feb 12 (Reuters) - Canada's main stock index fell on
Wednesday as a drop in oil prices weighed on energy shares and
hotter-than-expected U.S. inflation data crimped expectations
for additional interest rate cuts by the Federal Reserve. 
    The S&P/TSX composite index  .GSPTSE  ended down 68.72
points, or 0.3%, at 25,563.11, its second straight day of
declines.
    U.S. consumer prices increased by the most in nearly 1-1/2
years in January, reinforcing the Fed's message that it was in
no rush to resume cutting interest rates amid growing
uncertainty over the economy.    
    "Inflation is not behaving in a way that suggests the Fed
will cut rates and that is incrementally bad news for the
markets for now," said Angelo Kourkafas, investment strategist
at Edward Jones Investments.
    The energy sector fell 2.2% as the price of oil  CLc1 
settled 2.7% lower at $71.37 a barrel.
    U.S. President Donald Trump took the first big step toward
diplomacy over the war in Ukraine he has promised to end, a war
that has supported oil prices on concerns about global supplies.
    Consumer discretionary lost 1.1%, while real estate ended 1%
lower as bond yields climbed. The Canadian 10-year yield was up
9.4 basis points at 3.192%.
    Shares of TerraVest Industries Inc  TVK.TO  fell 10.4% after
quarterly revenue for the manufacturer of home heating products
fell short of analysts' estimates.
    The materials group was a bright spot, rising 1.2%, as gold
 XAU=  and copper  HGc1  prices rose. Barrick Gold Corp  ABX.TO 
shares added 6.3% after the mining company announced a share
buyback program and beat analysts' estimates for fourth-quarter
profit.
    Shares of BlackBerry Ltd  BB.TO  jumped 10.2%, touching the
highest since August 2022.

 (Reporting by Fergal Smith in Toronto and Ragini Mathur in
Bengaluru; Editing by Sahal Muhammed and Alistair Bell)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))