Canada Stocks: TSX flat; investors focus on economic data, trade talks

BlackBerry

02/07/2025 15:58

Updates with morning prices

By Twesha Dikshit and Sukriti Gupta

July 2 (Reuters) - Canada's main stock index was flat in choppy trading on Wednesday as investors assessed weak domestic and U.S. economic data, while tracking signs of any progress on trade talks ahead of President Donald Trump's July 9 tariff deadline.

The S&P/TSX composite index .GSPTSE was flat at 26877.26 points, after markets resumed trading following the Canada Day holiday.

Data showed Canada's manufacturing sector fell sharply in June, with U.S. tariffs affecting demand and leading to the biggest output cut in five years.

Trump said on Tuesday he was not considering extending the deadline for countries to negotiate trade deals with the U.S.

Canada aims to lift all tariffs as part of a deal with the U.S., Ottawa's Washington Ambassador told The Globe and Mail.

"There are concerns as we are still in negotiations and Mr. Trump is still in a fairly bellicose mood via his friends and trading partners...but we have climbed that wall of anxiety or stress with our resources and our financial institutions," Caldwell Securities Chairman Thomas Caldwell said.

On the TSX, healthcare .GSPTTHC stocks rose 1.6%, while mining shares .GSPTTMT advanced 1.2%, tracking a rise in copper prices.

Hudbay Minerals HBM.TO and Capstone Copper CS.TO gained 3.2% and 5.7%, respectively.

Communication .GSPTTTS stocks rose 1.5%, with Rogers Communications RCIb.TO adding 3.6% after BMO raised its price target.

Conversely, technology .SPTTTK stocks were the biggest laggards, falling 1.1%. BlackBerry BB.TO shares fell 6.9% to the bottom of the index.

Among individual stocks, Bombardier BBDb.TO rose 14.6% to the top of the index after the company said on Monday it had secured an order for 50 Challenger and Global aircraft in a $1.7 billion deal including a service agreement.

MDA Space MDA.TO was up 4.2% after it completed the acquisition of SatixFy Communications.

First Quantum FM.TO rose 5.8% after Barclays raised its price target.

Meanwhile, U.S. data showed private payrolls unexpectedly fell in June, with job gains being smaller than estimated during the month.

 (Reporting by Twesha Dikshit and Sukriti Gupta in Bengaluru; Editing by Sahal Muhammed and Shreya Biswas)

 ((Sukriti.Gupta@thomsonreuters.com;))