CANADA STOCKS-Toronto stocks subdued in holiday-shortened session
There will be no Canada equities report on Dec. 25 and Dec. 26, respectively; Reuters will resume coverage on Dec. 27.
Updates after market open
By Ragini Mathur
Dec 24 (Reuters) - Canada's main stock index was flat on Tuesday in thinner-than-usual trading volume, as investors clocked in for a half-day session on Christmas Eve.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 1.78 points, or 0.01%, at 24,750.76.
Markets are expected to close at 1:00 p.m. ET on Tuesday on account of a half day for Christmas Eve, while trading volume is expected to remain thin in the final days of the year.
"I think we borrowed earlier this year from the Santa Claus rally, meaning the gains you would normally have seen this time of year, we have probably already have experienced those gains earlier in November," said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth
Among sectors, Real Estate GSPTTRE and Information Technology .SPTTTK led the gains and added 0.4% each. Consumer Staples .GSPTTCS lost 0.3%.
The benchmark index is set to end 2024 with stellar gains, rising 18.1% as of last close, having received support from the policy easing cycles in Canada and the United States.
In 2025, focus will particularly be on what Donald Trump does after he takes power following his victory in the presidential election in November, given his tariff threats to Canada.
Earlier this month, the Bank of Canada slashed its key policy rate by 50 basis points, but warned further easing will be more gradual.
Markets predict a 68.2% chance of a 25 bps cut in next year's first policy meeting on Jan. 29.
Additionally, political worries in Canada seemed to escalate further as Prime Minister Justin Trudeau, whose party looks set to lose power early next year, is under pressure from his own legislators to step down and let someone else take over.
(Reporting by Ragini Mathur in Bengaluru; Editing by Krishna Chandra Eluri)
((Ragini.mathur@thomsonreuters.com;))
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