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TSX ends up 0.02% at 25,151.26
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Consumer staples sector adds 2.1%
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Energy falls 0.9%
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BMO, Scotiabank report on Tuesday
(Updates at market close)
By Ragini Mathur and Fergal Smith
Feb 24 (Reuters) - Canada's main stock index ended
nearly unchanged on Monday as investors awaited quarterly
earnings reports from the nations major banks, with gains for
consumer-related shares offsetting declines for energy.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 4.23 points, or 0.02%, at 25,151.26, after
posting on Friday its biggest decline in two months and its
lowest closing level in five weeks.
Canada's big six banks are expected to build more credit
loss provisions as they brace for uncertainty surrounding the
U.S. tariff threat, analysts said, potentially weighing on first
quarter earnings and beyond.
The banks report later this week, starting with Bank of
Montreal ( BNKD ) and Bank of Nova Scotia ( BNS ) on Tuesday.
"It's very hard to say what the real objective of the new
U.S. administration is, whether it is really just something that
can be addressed from increasing border security," said Angelo
Kourkafas, an investment strategist at Edward Jones Investments.
The heavily weighed financials sector was barely changed but
the consumer staples sector climbed 2.1%, with shares of food
retail Metro Inc ( MTRAF ) adding 3.1%.
Consumer discretionary advanced 1.7% and the materials
group, which includes fertilizer companies and metal mining
shares, was up 0.7% as the price of gold rose.
Shares of Equinox Gold Corp ( EQX ) edged 0.1% higher after
the company on Sunday said it would acquire all the outstanding
shares of Calibre Mining ( CXBMF ) in an all-stock deal. Calibre
Mining Corp ( CXBMF ) shares ended 3.9% lower.
The price of oil settled 0.4% higher at $70.70 a barrel as
investors awaited clarity on talks to end the war in Ukraine.
Still, energy was a drag, falling 0.9%.
Industrials and technology both lost 0.5%.