Equities in Toronto were in the red on Thursday after news of U.S. tariffs on aluminum and steel imports from Canada, Mexico and the European Union.
The S&P/TSX Composite Index demurred 45.58 points to stagger into noon hour at 16,003.08
The Canadian dollar dropped 0.57 cents at 77.02 cents U.S.
The largest percentage gainer on the TSX was BRP Inc., which jumped $3.78, or 6.6%, to $60.85 after first-quarter results.
Superior Plus fell 80 cents, or 6.1%, to $12.37, the most on the TSX, after news of the company buying NGL Energy Partner's retail propane business. The second biggest decliner was Descartes Systems, down $2.34, or 5.8%, to $38.09 after first-quarter results.
The most heavily traded shares by volume were Nemaska Lithium, Bombardier, and Green Organic Dutchman Holdings.
On the economic beat, Statistics Canada said the average weekly earnings of non-farm payroll employees were $997 in March, unchanged from the previous month. Earnings were up 3.1% compared with 12 months earlier, mostly due to increases in the last six months of 2017.
The agency also said real gross domestic product grew 0.3% in the first quarter, following an increase of 0.4% in each of the previous two quarters. Final domestic demand rose by 0.5%.
ON BAYSTREET
The TSX Venture gave back six points to 761.68
All but three of the 12 TSX subgroups were lower, as utilities and health-care each sank 0.6%, while telecoms dropped 0.5%.
The three gainers were information technology, up 0.3%, while energy acquired 0.2%, and gold gained 0.1%.
ON WALLSTREET
Stocks fell on Thursday after the U.S. announced tariffs on some key trade partners, increasing tensions.
The Dow Jones Industrials docked 158.39 points to 24,509.39, after falling more than 250 points, with Boeing contributing the most losses to the index.
The S&P 500 fell 5.56 points to 2,718.50, as consumer staples lagged.
The NASDAQ pushed forward 22.29 points to 7,484.75, as tech shares jumped 0.8%.
In corporate news, General Motors shares shot up 10.2% after the company said the SoftBank Vision Fund will invest $2.25 billion in the automaker's self-driving cars.
The Trump administration said Thursday that tariffs on steel and aluminum imports from European Union, Canada and Mexico will take effect at midnight Thursday.
Following the news, the Mexican peso and Canadian dollar hit their lows of the day against the U.S. currency. The greenback also hit its highest level against the peso since early March.
Meanwhile in economic news, the Commerce Department said consumer spending jumped 0.6% last month, the biggest gain in five months.
The department also said the personal consumption expenditures price index — the Federal Reserve's preferred measure of inflation — rose 0.2% in April.
Prices for the benchmark for the 10-year U.S. Treasury sagged, raising yields to 2.85% from Wednesday’s 2.84%. Treasury prices and yields move in opposite directions.
Oil prices fell 68 cents at $67.53 U.S. a barrel.
Gold prices slipped 80 cents to $1,305.70 U.S. an ounce.
