CANADA STOCKS-TSX falls as consumer stocks decline, investors book profits

Updates with market opening prices

By Ragini Mathur

Feb 14 (Reuters) - Canada's main stock index fell after weak earnings from consumer discretionary firms Magna and MTY Food on Friday, while investors took some profits after strong gains in the previous session.

The S&P/TSX composite index .GSPTSE was down 0.5% at 25,578.37. The index rose 0.5% on Thursday.

U.S. President Donald Trump has directed his economic team to plan reciprocal tariffs on countries taxing U.S. imports, potentially escalating a global trade war.

This directive, issued on Thursday, starts a lengthy investigation into tariffs on U.S. goods by other nations, giving short-term relief to global equity markets.

"We had a good day in the markets yesterday and some people I think are just taking profits," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

"Trump has been talking about tariffs for a long time now, so there was nothing new on the trade front today but it remains an ongoing risk and is holding the markets back."

On the TSX, consumer discretionary .GSPTTCD sector led the declines, falling 1.5%, as MTY Food Group MTY.TO lost 6% after the restaurant chain reported fourth-quarter revenue below estimates.

Another consumer discretionary share, Magna International MG.TO, fell 4.2% after the Canadian auto parts maker cut its 2026 sales estimate and offered a weak revenue forecast for the current year.

The materials group .GSPTTMT also lost 1.5%, dragged by a 10% fall in miner Seabridge Gold SEA.TO after the company announced a $100 million financing.

But real estate .GSPTTRE rose 1% and utilities .GSPTTUT rose 0.7%, as Canada's 10-year benchmark yield CA10YT=RR eased to 3.097, tracking moves in its U.S. counterpart.

Looking ahead, Canada markets will remain closed on Monday for the Family Day holiday.