*
TSX ends down 0.02% at 25,405.14
*
Energy falls 2.3%; oil settles 0.2% lower
*
Bombardier shares lose 9.3%
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Technology advances 1.1%
(Updates at market close)
By Nikhil Sharma and Fergal Smith
Nov 26 (Reuters) - Canada's stock market inched lower on
Tuesday, weighed by declines for energy, railroad and auto parts
manufacturing shares, after U.S. President-elect Donald Trump
vowed to impose big tariffs on top trading partners, including
Canada.
The S&P/TSX composite index ended down 5.21
points, or 0.02%, at 25,405.14, its second straight day of
modest declines after posting a record closing high on Friday.
Trump on Monday pledged big tariffs on the United States'
three largest trading partners - Canada, Mexico and China - in a
move that helped push the Canadian dollar to a 4-1/2-year low
against its U.S. counterpart.
"Tariffs dump sand in the gears of the global economy and
markets hate them," Colin Cieszynski, chief market strategist at
SIA Wealth Management, said in a note.
Officials from Mexico, Canada and China warned that Trump's
tariff threat would harm the economies of all involved.
"These types of threats are mostly designed to extract
concessions," said Angelo Kourkafas, investment strategist at
Edward Jones Investments, adding they are, however, "impacting
sentiment in the short term."
Canada sends about 75% of its exports to the United States,
including oil. Trump's plan does not exempt crude oil from trade
penalties, two sources familiar with the plan told Reuters.
U.S. crude futures settled 0.25% lower at $68.77 a
barrel after Israel agreed to a ceasefire deal with Lebanon,
while the Toronto market's energy sector was down 2.3%.
Industrials fell 1%, weighed by declines for railroad
shares. Automotive suppliers also lost ground, with Magna
International Inc ( MGA ) falling 4.7%. Business jet
manufacturer Bombardier Inc ( BDRPF ) lost 9.3%.
The TSX is set to rise in 2025 but returns could slow after
investors potentially front-loaded much of the positive news, a
Reuters poll found.
Helping to limit the decline on Tuesday, technology rose
1.1% and financials added 0.5%.