By Adriano Marchese

Toronto stocks were slightly lower mid-trading on Tuesday. Most sectors were in the red, led by tech, materials and tech services stocks. On the gainer's side, distribution services, energy and commercial services were among the leaders.

President Trump's 25% tariffs on all steel and aluminum imports into the U.S. were signed by executive order, beginning on March 4.Canadian Prime Minister Justin Trudeau said he would speak to other Western allies about choosing their response to the U.S.'s 25% tariff on all imported steel and aluminum.

On the macroeconomic front, there was a big bump of 11% in Canadian building permits in December, potentially signalling a good year for building activity in 2025.

Canada's S&P/TSX Composite Index fell 0.1% to 25640.91 while the blue-chip S&P/TSX 60 was flat at 1542.72.

Shopify's profit doubled in the fourth quarter after revenue rose by nearly a third, boosted by strong sales during the holidays and deeper integration with more online merchants. Shares have been volatile all day, currently trading flat at 171.43 Canadian dollars ($119.73), but dipping as low as C$164.37 earlier in the morning.

Other market movers:

Parkland shares rose 12% to C$37.50 after Ontario's provincial court found that Simpson Oil, its largest investor, is no longer bound by the voting and standstill restrictions.

OrganiGram Holdings' shares fell nearly 18% to C$2.06 after it reported a widened loss while revenue growth missed expectations in the first fiscal quarter as the company integrates its acquisition of cannabis producer Motif Labs.

Shares in Canadian movie theater chain Cineplex fell 2.9% to C$10.57 after it profit and revenue growth missed expectations in its fourth quarter. In the quarter, the company saw higher media revenue and more moviegoers coming to the big screens.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

February 11, 2025 12:19 ET (17:19 GMT)

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