TSX Ends On Weak Note Again

RTTNews | 788 gün önce

(RTTNews) - The Canadian market ended sharply lower on Tuesday amid concerns the Fed will continue to be aggressive with regard to interest rate hikes after data showed stronger than expected jobs and services sector activity growth in the U.S. in the month of November.

Investors looked ahead to the Bank of Canada's monetary policy, due on Wednesday.

Mirroring widespread selling, all the sectoral indices closed in negative territory. Healthcare, energy, technology and consumer discretionary stocks were among the major losers.

The benchmark S&P/TSX Composite Index ended down 252.09 points or 1.25% at 19,990.17.

The Healthcare Capped Index dropped 7.26%. Canopy Growth Corp (WEED.TO) plunged 16.4%, Cronos Group Inc (CRON.TO) tumbled 13.3% and Tilray Inc (TLRY.TO) tanked 12.7%. Bellus Health (BLU.TO) and Bausch Health Companies (BHC.TO) ended lower by 3.1% and 1.6%, respectively.

The Energy Capped Index drifted down 3.51%. Paramount Resources (POU.TO), Nuvista Energy (NVA.TO), MEG Energy Corp (MEG.TO), Whitecap Resources (WCP.TO), Arc Resources (ARX.TO) and Baytex Energy (BTE.TO) shed 5 to 7%.

Technology stocks Softchoice Corp (SFTC.TO) fell 7.2%. BlackBerry (BB.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO), Sylogist (SYZ.TO) and Absolute Software Corp (ABST.TO) ended lower by 4 to 5%.

In the consumer discretionary sector, Dollarama (DOL.TO), Canadian Tire Corp (CTC.A.TO), Spin Master (TOY.TO), Uni Select (UNS.TO), Mty Food Group (MTY.TO), Restaurant Brands International (QSR.TO) and Gildan Activewear (GIL.TO) lost 1 to 2.3%.

On the economic front, data released by Statistics Canada showed Canada posted a trade surplus of C$ 1.2 billion in October 2022, widening from a downwardly revised C$0.6 billion in the previous month.

Exports surged by 1.5% to C$ 67 billion, while imports increased by 0.6% to C$65.8 billion in October.

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