TSX Ends Weak On Growth Concerns

RTTNews | vor 840 Tagen
TSX Ends Weak On Growth Concerns

(RTTNews) - The Canadian market ended lower on Tuesday as healthcare, materials and utilities shares fell on selling pressure.

Energy and technology stocks started off on a weak note, but regained most of the lost ground as the session progressed.

The benchmark S&P/TSX Composite Index, which fell to 20,468.68 intraday, ended the session with a loss of 93.71 points or 0.45% at 20,532.93.

Data showing a slowdown in manufacturing activity in the U.S., Europe, the U.K., and China rendered the mood cautious.

A report from Markit Economic said the S&P Global Canada Manufacturing PMI rose to 49.6 in July of 2023 from 48.8 in June, beating market expectations of 48.9, but marking a third consecutive month of contraction in the Canadian manufacturing sector.

In the healthcare sector, Tilray Inc (TLRY.TO) ended 4.8% down, and Bausch Health Companies (BHC.TO) ended lower by 1.7%.

Among materials shares, Silvercrest Metals (SIL.TO) tanked 21.5% after two brokerages cut the price target of the stock.

Centerra Gold (CG.TO) ended 6.6% down, while Equinox Gold Corp (EQX.TO), Endeavour Silver Corp (EDR.TO), Osisko Mining Corp (OSK.TO) and MAG Silver Corp (MAG.TO) lost 4.4 to 5%.

In the utilities section, Boralex Inc (BLX.TO), Brookfield Renewable (BEP.UN.TO), Algonquin Power (AQN.TO), Innergex Renewables (INE.TO), Canadian Utilities (CU.TO), Emera Inc (EMA.TO) and Fortis Inc (FTS.TO) ended lower by 1 to 2.5%.

Molson Coors Canada Inc (TPX.B.TO), Stelco Holdings (STLC.TO), Nuvei Corporation (NVEI.TO), Sprott Inc (SII.TO) and Nutrien (NTR.TO) were among the other major losers.

Wajax Corporation (WJX.TO), TFI International (TFII.TO), Docebo Inc (DCBO.TO), Linamar Corporation (LNR.TO), Waste Connections (WCN.TO), Ag Growth International (AFN.TO), Bombardier Inc (BBD.B.TO), FirstService Corporation (FSV.TO), Toromont Industries (TIH.TO) and Fairfax Financial Holdings (FFH.TO) gained 1 to 4%.

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