By Adriano Marchese
Stocks in Toronto climbed in lockstep with other indexes on the back of easing U.S.-China trade strains.
U.S. tariffs on Chinese goods are set to come down to 30% from 145%, while China will cut levies on U.S. goods to 10% from 125%.
Most sectors were trending higher Monday, led primarily by gains in consumer durables, tech and commercial services. Of the few decliners, materials stocks were the lowest, as the price gold pulled back after news of easing trade tensions. Some smaller losses were also in utilities and communications stocks.
Canada's S&P/TSX Composite Index advanced by 0.6% to 25517.83 and the blue-chip S&P/TSX 60 rose by 0.8% to 1533.15.
Bucking the trend was Hudbay Minerals, whose stock rose 9.2% to 11.68 Canadian dollars ($8.38) after it reported profit and revenue rose in the first quarter on the back of lower costs, despite a slip in production.
Other market movers:
Orla Mining shares fell by 15% to C$13.09 after the miner reported a loss in the first quarter on the back of higher costs related to its recent acquisition of the Musselwhite mine.
Geodrill reported higher revenue in the latest quarter and said it continues to see strong demand for its mining services despite concerns over the use of import tariffs. Shares rose 4.7% to C$3.35.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 12, 2025 12:28 ET (16:28 GMT)
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