TSX Ends Slightly Down After Cautious Session
(RTTNews) - After a weak start and a subsequent modest upmove, the Canadian market retreated Tuesday morning and spent the rest of the day's session in negative territory as investors digested quarterly earnings updates from Canadian and U.S. companies and awaited some crucial economic data for directional cues.
The benchmark S&P/TSX Composite Index ended down 3.11 points or 0.01% at 24,562.55. The index touched a low of 24,461.86 and a high of 24,591.36 intraday.
Materials and technology stocks moved higher, while shares from utilities, communications and consumer discretionary sectors drifted lower.
GFL Environmental (GFL.TO) gained about 3.2%. Agnico Eagle Mines (AEM.TO), Wheaton Precious Metals (WPM.TO), Waste Connections (WCN.TO), Descartes Systems Group (DSG.TO) and Onex Corporation (ONEX.TO) climbed 1.6 to 2.7%.
FirstService Corporation (FSV.TO), Constellation Software (CSU.TO), Franco-Nevada Corporation (FNV.TO) and Fairfax Financial Holdings (FFH.TO) gained 1 to 1.5%.
Linamar Corporation (LNR.TO), West Fraser Timber (WFG.TO), Canadian Tire Corporation (CTC.A.TO), Magna International (MG.TO), Richelieu Hardware (RCH.TO), Emera Incorporated (EMA.TO), Rogers Communications (RCI.B.TO) and Cogeco Communications (CCA.TO) lost 2 to 4%.
On the economic front, data from Statistics Canada showed wholesale sales in Canada rose by 0.9% month-over-month in September, following a 0.6% decline in August, according to preliminary estimates.
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