Canada Stocks: TSX ends lower as communication company shares slide

Colliers International

06/02/2025 21:22

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      TSX ends down 0.1%, at 25,534.49
    

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      Communication services fall 3%
    

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      Lightspeed tumbles 12.9% after revenue miss
    

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      Great-West Lifeco jumps 10.4% 
    

  
 (Updates at market close)
    By Fergal Smith
       Feb 6 (Reuters) - Canada's main stock index closed lower
on Thursday, weighed by declines for the shares of energy,
technology and some major communication companies as investors
digested some mixed corporate earnings reports.
    The S&P/TSX composite index  .GSPTSE  ended down 35.35
points, or 0.1%, at 25,534.49, giving back some of its gains
over the past two sessions.
    "We are still in a period where headline volatility is
triggering some uncertainty but at the same time the fundamental
backdrop remains supportive," said Angelo Kourkafas, senior
investment strategist at Edward Jones.
    "The focus will remain on trade uncertainty but also
corporate profits as we're in the thick of earnings season."
    The communications services sector lost 3%, with BCE Inc
 BCE.TO  down 6.1% after its quarterly earnings missed
estimates. Rogers Communications Inc  RCIb.TO  ended 6.7% lower.
    
    Shares of Lightspeed Commerce Inc  LSPD.TO  tumbled 12.9% as
the payments software firm missed quarterly revenue expectations
and said it has completed its strategic review process and
decided to remain a public company.
    Technology was down 1.8%, while real estate ended 1.4%
lower, weighed by a decline of 6.7% for the shares of Colliers
International Group Inc  CIGI.TO . The real estate services firm
missed quarterly earnings estimates.
    Planemaker Bombardier Inc  BBDb.TO  beat profit estimates,
while it delayed its 2025 forecast citing uncertainty related to
U.S. trade tariffs. The company's shares were down 5.7%.
    Energy fell 1.2% as the price of oil settled 0.6% lower at
$70.61 a barrel but heavily weighted financials notched gains,
with shares of Great-West Lifeco Inc  GWO.TO  jumping 10.4%
after the company's quarterly results.
    Industrials also ended higher, helped by a gain of 6.6% for
the shares of Thomson Reuters Corp  TRI.TO  as the company
forecast a pickup in underlying revenue growth over this year
and next as it continues to invest in AI-driven products.

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