TSX Ends Modestly Lower On Weak Bank Results, Lower Commodity Prices

(RTTNews) - The Canadian market ended weak on Tuesday after languishing in negative territory right through the day's session, with weak results from Bank of Montreal and lower commodity prices hurting sentiment.

The benchmark S&P/TSX Composite Index, which dropped to 23,185.74 in early trades, losing more than 150 points in the process, ended the session with a loss of 89.01 points or 0.38% at 23,259.96.

Bank of Montreal (BMO.TO) tumbled 6.5%. The bank reported a net income of $1,865 million for the third-quarter of this financial year, compared with $1,565 million a year ago. Adjusted net income came in at $1,981 million in the latest quarter, compared to $2,148 million the previous year's third quarter.

Bank of Nova Scotia (BNS.TO) gained about 2.5%. BNS reported third-quarter net income of $1,912 million, compared to $2,192 million a year ago. Adjusted net income for this year's third quarter came in at $2,191 million, compared to $2,207 million a year ago.

Ag Growth International (AFN.TO) ended down 3.5%. Precision Drilling Corporation (PD.TO), Suncor Energy (SU.TO), West Fraser Timber (WFG.TO), Imperial Oil (IMO.TO), Stella-Jones (SJ.TO), TFI International (TFII.TO), Premium Brands Holdings Corporation (PBH.TO) and BRP Inc (DOO.TO) lost 1.5 to 3%.

Toromont Industries (TIH.TO), goeasy (GSY.TO), WSP Global (WSP.TO) and Constellation Software (CSU.TO) also ended notably lower.

Pollard Banknote (PBL.TO) soared 13.3%. Gildan Activewear (GIL.TO), Thomson Reuters (TRI.TO), Bombardier Inc (BBD.A.TO), Docebo Inc (DCBO.TO), Kinaxis Inc (KXS.TO), Alimentation Couche-Tard (ATD.TO), EQB Inc (EQB.TO) and CGI Inc (GIB.A.TO) gained 1 to 2.3%.

On the economic front, data from Statistics Canada showed wholesale sales in Canada fell by 1.1% month-over-month in July, following a 0.6% decline in June, according to preliminary estimates.