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Globe/wire say TSX adds 200 points despite tariffs

2025-02-11 09:29 ET - In the News

The Globe and Mail reports in its Tuesday edition that Canada's main stock index rose more than 200 points on Monday, led by strength in the energy, base metal and technology sectors, while U.S. stock markets also climbed. A Reuters dispatch to The Globe says the gains came despite an announcement from U.S. President Donald Trump that he would impose 25-per-cent tariffs on all steel and aluminum imports starting Monday. The executive orders were scheduled for midday, but pushed to after the close of trading, with no reason given for the delay. The threat of tariffs is not a shock any more, said Ryan Crowther, portfolio manager at ClearBridge Investments. The S&P/TSX Composite Index closed up 215.95 points at 25,658.86, just shy of its record closing high of 25,808.25 on Jan. 30. In New York, the Dow was up 167.01 points at 44,470.41. The S&P 500 Index was up 40.45 points at 6,066.44, while Nasdaq was up 190.87 points at 19,714.27, as large tech names were some of the strongest forces lifting U.S. markets higher. The Toronto Stock Exchange got a boost from commodities Monday. "Gold continues to benefit from the backdrop of uncertainty and confusion sort of looming in the background," Mr. Crowther said.

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