TSX Ends Marginally Down
(RTTNews) - The Canadian market ended marginally down on Tuesday after stocks turned in a mixed performance.
Losses in the financial sector weighed on the market. Materials shares gained amid prospects of Chinese economic stimulus.
The mood was largely cautious with investors awaiting the Federal Reserve's monetary policy announcement on Wednesday.
The benchmark S&P/TSX Composite Index ended with a loss of 30.59 points or 0.15% at 20,551.53.
The Materials Capped Index climbed 1.68%. Hudbay Minerals (HBM.TO), up 8.2%, was the biggest gainer in the sector. Capstone Mining Corp (CS.TO) gained 6.1%. Methanex Corp (MX.TO), Lundin Mining Corp (LUN.TO), Filo Mining (FIL.TO), Ero Copper Corp (ERO.TO), First Quantum Minerals (FM.TO) and Ivanhoe Mines (IVN.TO) gained 4 to 5%.
Among energy stocks, Precision Drilling Corp (PD.TO) gained nearly 2.5%. Pason Systems (PSI.TO), MEG Energy Corp (MEG.TO), Crescent Point Energy (CPG.TO) and Canadian Natural Resources (CNQ.TO) gained 1 to 1.6%.
In the financial sector, Bank of Nova Scotia (BNS.TO) ended 2.6% down. Nuvei Corp (NVEI.TO), Royal Bank of Canada (RY.TO), Toronto-Dominion Bank (TD.TO) and Canadian Imperial Bank of Commerce (CM.TO) lost 1 to 2%.
On the economic front, preliminary data showed manufacturing sales in Canada dropped 2.1% from a month earlier in June, after an increase of 1.2% in May.
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