Equities trading in Canada’s largest centre climbed on Thursday as investors focused on trade developments and corporate updates. Prime Minister Mark Carney announced on Wednesday that Canada will implement steel tariff quotas for countries with which it has free trade agreements—excluding the United States—to safeguard the domestic steel sector.
This decision comes after US President Donald Trump raised tariffs on steel and aluminum imports from 25 per cent to 50 per cent earlier this month. However, the terms of the United States-Mexico-Canada Agreement (USMCA) will remain unchanged.
With the August 1 deadline approaching, investors are closely watching for further tariff-related news. On Thursday, Japan held discussions with US Commerce Secretary Howard Lutnick, while the European Union’s trade commissioner traveled to Washington on Wednesday.
Meanwhile, US markets remained relatively flat as traders reviewed corporate earnings and monitored the ongoing tensions between President Trump and Federal Reserve Chairman Jerome Powell. Wall Street had previously seen gains after Trump denied rumors that he intended to dismiss Powell from his role.
| TSX | 27,386.93 | +233.96 |  |
| TSXV | 791.66 | +4.85 | |
| CSE | 127.28 | +1.29 | |
| DJIA | 44,484.49 | +229.71 | |
| NASDAQ | 20,884.27 | +153.78 | |
| S&P 500 | 6,297.36 | +33.66 | |
The Canadian dollar traded for 72.76 cents US compared to 73.05 cents US on Wednesday.
US crude futures traded US$1.02 higher at US$67.41 a barrel, and the Brent contract rose $0.80 to US$69.32 a barrel.
The price of gold was down US$14.61 to US$3,339.09.
In world markets, the Nikkei was up 237.79 points to ¥39,901.19, the Hang Seng was down 18.81 points to HK$24,498.95, the FTSE was up 46.09 points to ₤8,972.64, and the DAX was up 361.55 points to €24,370.93.
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