TSX rises, U.S. markets mixed after more tariffs take effect, BoC cuts rate

Canadian Press

Published Mar 12, 2025 • Last updated Mar 13, 2025 • 1 minute read

A person walks past the TMX Market Centre in Toronto, Wednesday, Sept. 11, 2024. Photo by Paige Taylor White /The Canadian Press

Canada’s main stock index rose Wednesday while U.S. markets were mixed, after 25% tariffs on U.S. imports of steel and aluminum officially kicked in and the Bank of Canada cut its key lending rate by a quarter-point to 2.75 per cent.

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The S&P/TSX composite index was up 175.14 points at 24,423.34.

In New York, the Dow Jones industrial average was down 82.55 points at 41,350.93. The S&P 500 index was up 27.23 points at 5,599.30, while the Nasdaq composite was up 212.35 points at 17,648.45.

The Canadian dollar traded for 69.49 cents US compared with 69.20 cents US on Tuesday.

The April crude oil contract was up US$1.46 at US$67.68 per barrel and the April natural gas contract was down 37 cents at US$4.08 per mmBTU.

The April gold contract was up US$25.90 at US$2,946.80 an ounce and the May copper contract was up eight cents at US$4.82 a pound.

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