July 18 (Reuters) – Canada’s main stock index closed lower on Friday, dragged down by weakness in industrial stocks, as investors reacted to trade uncertainty following a report that U.S. President Donald Trump was eyeing new tariffs on European Union products.
Toronto Stock Exchange’s S&P/TSX composite index closed down 72.92 points, or 0.27%, at 27,314.01.
For the week the index closed 1.1% higher, after hitting record highs on Thursday.
An FT report, which said the Trump administration was eyeing a tariff rate topping 10% even if a wider trade deal with Europe is struck, also sent U.S. indexes lower before they partly recovered.
“It’s definitely a risk-off environment,” said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.
“We’ve had such a great run up this week on TSX, along with the S&P and Nasdaq… you were going to get a breather on a Friday afternoon,” Dehal said.
Industrial…
