Canada Stocks: TSX flat as investors assess mixed corporate earnings

Thomson Reuters

06/02/2025 16:12

(Updates with market opening prices)
    By Ragini Mathur
       Feb 6 (Reuters) - 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 S&P/TSX composite index  .GSPTSE  was down 0.06% at
25,554.84.
        Wall Street's main indexes, on the other hand, were
slightly higher as some upbeat results from large corporates
brought relief to investors awaiting U.S. President Donald
Trump's next move on trade restrictions and other federal
policies.  .N 
  
    Canada's consumer discretionary  .GSPTTCD  sector rose 0.7%,
buoyed by a 3.6% rise in clothing company Aritzia's  ATZ.TO 
shares. 
    Thomson Reuters'  TRI.TO  shares climbed 6.4% to the top of
the TSX, after it reported higher fourth-quarter revenue and
issued 2025 organic revenue growth targets that could exceed the
rate in 2024.
    "The companies that have reported results are probably
garnering the large share of investors' attention. It is the
most consequential thing that is impacting the TSX trades so far
today," said Brian Madden, chief investment officer at First
Avenue Investment Counsel. 
    The heavyweight financial  .SPTTFS  sector added 0.6%,
boosted by a 7% rise in Great-West Lifeco's  GWO.TO  shares
after TD Cowen upgraded the life insurer's ratings.
    Combating overall gains, the capped communications
 .GSPTTTS  sector lost 2.7% after BCE  BCE.TO  shares fell 6.4%
following its dour annual profit forecast.
    The real estate sector fell 1.3%, dragged down by Colliers
International's  CIGI.TO  7.2% fall after the firm missed
fourth-quarter profit estimates.
    Among other major earnings, shares of parka maker Canada
Goose  GOOS.TO  fell about 6% after the company missed quarterly
revenue estimates.
    Shares of Bombardier  BBDb.TO  were down 3.9% after the
plane maker delayed its 2025 forecast, citing uncertainty
related to Trump's tariffs.
    On the data front, Canadian economic activity contracted for
the first time in five months in January as employment grew at a
slower pace and prices heated up.

 (Reporting by Ragini Mathur in Bengaluru; Editing by Shreya
Biswas)
 ((Ragini.Mathur@thomsonreuters.com;))