Canadian Market Slightly Lower; BoM
2025-05-27
4593
(fxcue news) - The Canadian market is slightly down on Wednesday with stocks moving in a tight range as investors digest earnings updates from Bank of Montreal and National Bank of Canada, and await further developments on trade negotiations between the U.S. and its major trading partners.
The benchmark S&P/TSX Composite Index was down 29.17 points or 0.11% at 26,239.83 a little while ago.
Algonquin Power, Ivanhoe Mines, BlackBerry, Spin Master Corp, Iamgold and MDA Space are down 2 to 3.4%.
Lightspeed Commerce, Lundin Mining, First Quantum Minerals, Teck Resources, Endeavour Silver, Saputo, BCE Inc., Methanex and Celestica are also notably lower.
Canadian Natural Resources is down 0.4%. Cheniere Energy, Inc. announced today that its subsidiary, Cheniere Marketing, LLC, has entered into a long-term Integrated Production Marketing gas supply agreement with Canadian Natural Resources Limited.
National Bank of Canada is up 3.5%. The bank reported net income of $896 million for the second quarter of 2025, down 1% from $906 million in the second quarter of 2024 and diluted earnings per share stood at $2.17 compared to $2.54 in the second quarter of 2024.
Bank of Montreal is gaining about 2.1%. The bank reported second-quarter net income of $1,962 million, compared with $1,866 million a year ago. Adjusted net income for the second-quarter came in at $2,046 million this financial year, compared with $2,033 million in the year-ago quarter.
Tilray, TransAlta Corp, Denison Mines, Ngex Minerals, Baytex Energy Corp, goeasy, Loblaw Companies, Aya Gold & Silver, Aecon Group, iA Financial and Aritzia are gaining 1 to 3.3%.
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