By Adriano Marchese
Toronto stocks kicked off trading lightly higher.
Sector performance was mixed in the session Monday. The biggest decliners were in the manufacturing, transportation and tech sectors. These were offset by materials, energy and communications stocks.
Canadian steel and auto parts companies stocks are under pressure after President Trump announced another round of fresh levies on steel and aluminum that would bring the current 25% rate up to 50%.
On the broader economic front, Canadian manufacturing activity rose to 46.1 in May, from 45.3 in April, but still remained in contraction territory as output and new orders again fell sharply.
Canada's S&P/TSX Composite Index rose 0.3% to 26258.93 and the blue-chip S&P/TSX 60 advanced 0.2% to 1571.25.
CAE shares rose 4.1% to 36.76 Canadian dollars ($26.75) after it said it has appointed Matthew Bromberg to succeed long-time Chief Executive Marc Parent, effective Aug. 13. Bromberg has worked as executive in commercial and military aerospace markets for major global publicly traded companies.
Other market movers:
Algoma Steel Group shares fell 6.6% to C$6.78 on the back of a fresh set of tariffs on U.S. imports of steel.
Canadian auto-parts makers, which are also reliant on steel and aluminum, are also lower. Magna International fell 2.2% to C$48.72, and business-jet manufacturer Bombardier was down 2.2% to C$93.97.
Dye & Durham shares rose 3.5% to C$10.47. The company reshuffled top roles, including appointing George Tsivin as its new chief executive.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 02, 2025 12:27 ET (16:27 GMT)
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