From Nasdaq: 2025-02-14 18:12:00

The Canadian market closed lower on Friday due to weak earnings and U.S. retail data. The S&P/TSX Composite Index fell 0.84% to 25,483.23.

MTY Food Group Inc reported a net loss of $55.3 million, causing its stock to tank nearly 12%. Magna International closed down over 4% after reporting a lower profit in the fourth quarter.

Several other companies, including Silvercrest Metals, Seabridge Gold, and Enbridge Inc, also saw significant losses. Enbridge Inc projected its fiscal 2025 distributable cash flow and adjusted EBITDA.

On the economic front, manufacturing sales in Canada rose 0.3% in December 2024, while wholesale sales fell 0.2%. Car registrations also decreased in December.



Read more at Nasdaq: TSX Ends Moderately Lower | Nasdaq