Canada Stocks-TSX edges higher as real estate, financial stocks gain

U.S. President Donald Trump announced on Monday new 50% tariffs on a variety of Canadian products to take effect on August 19.

"We know that the Trump administration deliberately missed the deadline to renew the USMCA trade agreement. What we would infer from that is there is a desire on the part of the U.S. administration to use trade uncertainty as ongoing points of negotiating leverage," said Brian Madden, chief investment officer at First Avenue Investment Counsel.

"I wouldn't say investors are totally ignoring it, but they're not reacting to it as sort of violently," Madden added.

On Thursday, Prime Minister Mark Carney had said Canada will do whatever it takes to defend its workers, farmers and businesses in a trade war with the U.S.

• Financial shares were among the biggest gainers, with Onex Corp ONEX.TO and Power Corporation of Canada POW.TO up over 2% each.
• Real estate stocks .GSPTTRE advanced 0.8%, reversing the previous session's declines. Colliers International Group CIGI.TO, FirstService Corp FSV.TO and Altus Group AIF.TO led gains in the sector.
• Heavyweight materials .GSPTTMT, which include miners, gained 0.6% as gold prices held steady. GOL/