TSX ends down 0.1% at 24,841.68
For the month, the index dips 0.3%
Energy falls 2.3% as oil settles 3.7% lower
Quarterly results boost Loblaw Companies
Updates at market close
By Fergal Smith
April 30 (Reuters) - Canada's main stock index edged lower on Wednesday, adding to its modest monthly decline, as investors assessed U.S. gross domestic product data for signs of trade tariffs upending the global economy.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 32.8 points, or 0.1%, at 24,841.68.
For the month, it was down 0.3%, its third straight monthly decline. Still, it has rebounded 10.4% from a near eight-month low earlier in April.
The U.S. economy contracted for the first time in three years in the first quarter, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs and underscoring the disruptive nature of President Donald Trump's often chaotic trade policy.
"The disappointing (U.S.) jobs and GDP numbers this week - they don't really reflect the effect all these tariffs have had yet," said Michael Sprung, president of Sprung Investment Management.
"Going forward, it doesn't appear that things are going to get better any time soon."
Domestic data was also downbeat, showing that gross domestic product contracted by 0.2% in February on a monthly basis as activities across mining, oil and gas and construction sectors shrank.
The technology sector fell 1.8%, giving back some of its gains in recent days. Shares of e-commerce company Shopify Inc SHOP.TO ended 4.2% lower.
Energy was down 2.3% as the price of oil CLc1 settled 3.7% lower at $58.21 a barrel on concerns that trade tensions could erode fuel demand.
Consumer staples added 1.7%, helped by a gain of 2.5% for the shares of Loblaw Companies Ltd after the retailer exceeded analysts' expectations for first-quarter revenue and profit.
The interest-rate-sensitive utilities and real estate sectors added 1% and 0.9% respectively as bond yields fell.
The Canadian 10-year yield was down 4.7 basis points at 3.087%, trading near its lowest level since April 17.
(Reporting by Fergal Smith in Toronto and Sanchayaita Roy and Sukriti Gupta in Bengaluru; Editing by Leroy Leo and Cynthia Osterman)
((fergal.smith@thomsonreuters.com; +1 647 480 7446))
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