The markets today

TORONTO (CP) — Canada’s main stock index dipped into the red on Thursday as Wall Street was mixed amid U.S. President Donald Trump’s long-awaited tax reform package. The S&P/TSX composite index fell 14.34 points to 16,014.99, with energy leading decliners. On the corporate front, Canadian oil and gas companies that reported quarterly earnings Thursday met with mixed reactions from investors, with shares of Enbridge Inc. down 4.8 per cent, while Cenovus rose 2.7 per cent and Canadian Natural Resources was up 0.44 per cent at the close. Meanwhile, Bombardier Inc. saw its shares rise more than six per cent amid news the aerospace and transportation company has signed a letter of intent with an unidentified European customer for a firm order of 31 C Series aircraft and options for an additional 30 jets. In New York, major indices were largely static as investors pored over House Republicans’ tax proposals. The broad strokes of the bill include temporarily cutting the top corporate U.S. tax rate to 20 per cent from 35 per cent, a boon to smaller American companies that tend to pay taxes at higher rates than larger firms that do more business overseas. In other news, Canadian softwood lumber producers learned Thursday they will be hammered only slightly less forcefully as the U.S. government reduced export duties for most Canadian producers after ongoing political talks failed to reach a deal.