TSX Extends Losses To 3rd Straight Session, Ends 0.5% Down Ahead Of Key Economic Data

RTTNews | vor 371 Tagen
TSX Extends Losses To 3rd Straight Session, Ends 0.5% Down Ahead Of Key Economic Data

(RTTNews) - The Canadian market closed weak on Monday, extending losses to a third straight session as weak oil and gold prices weighed on energy and materials stocks. Communications shares were the other major losers.

The mood was cautious as investors awaited the Federal Reserve's monetary policy announcement, and a slew of key economic data, including reports on Canadian inflation and retail sales reports, and U.S. inflation readings.

The benchmark S&P/TSX Composite Index closed down 127.09 points or 0.5% at 25,147.21.

The Energy Capped Index shed 1.82%. Baytex Energy (BTE.TO) lost about 5%. Veren Inc (VRN.TO), Vermilion Energy (VET.TO), Birchcliff Energy (BIR.TO), Kelt Exploration (KEL.TO), Arc Resources (ARX.TO), Cenovus Energy (CVE.TO), Tourmaline Oil Corp (TOU.TO) and Precision Drilling Corporation (PD.TO) lost 2 to 3%.

Materials shares Algoma Steel Group (ASTL.TO), First Quantum Minerals (FM.TO), Orla Mining (OLA.TO), Silvercrest Metals (SIL.TO), K92 Mining (KNT.TO) and Teck Resources (TECK.B.TO) lost 3 to 4.5%. Nutrien (NTR.TO), Barrick Gold Corp (ABX.TO), Ivanhoe Mines (IVN.TO) and Lundin Mining (LUN.TO) were among the other major losers.

Communications stock BCE Inc (BCE.TO) closed down 6.25%. Rogers Communications (RCI.B.TO) lost 4.4%, while Cogeco Communications (CCA.TO) and Quebecor (QBR.B.TO) and ended lower by 2.2% and 1.49%, respectively.

Hut 8 Corp (HUT.TO) rallied nearly 6.5%. Aritzia Inc (ATZ.TO), Jamieson Wellness (JWEL.TO), Brookfield Asset Management (BAM.TO), ATCO Ltd. (ACO.Y.TO), TerraVest Industries (TVA.TO), Boyd Group Services (BYD.TO), GFL Environmental (GFL.TO) and Toromont Industries (TIH.TO) gained 1.5 to 2.7%.

On the economic front, a report from the Canada Mortgage and Housing Corporation said housing starts in Canada rose by 8.4% month-over-month to 262,400 units in November, the highest level in four months.

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