TSX Ends Slightly Lower After Lackluster Session

RTTNews | hace 876
TSX Ends Slightly Lower After Lackluster Session

(RTTNews) - The Canadian market ended slightly weak on Monday after a lackluster session.

The mood in the market remained cautious as investors awaited earnings announcements from major U.S. tech firms including Alphabet, Microsoft, Amazon Inc. and Meta Platforms Inc, and data on U.S. consumer confidence, durable goods orders, first quarter GDP and personal income & spending.

The benchmark S&P/TSX Composite Index ended with a marginal loss of 16.41 points or 0.08% at 20,676.74, after moving between 20,643.22 and 20,709.58.

Energy stocks gained on firm crude oil prices. Technology and financials shares were weak, while shares from the rest of the sectors ended mixed.

Seabridge Gold (SEA.TO) soared 13%. Lithium Americas Corp (LAC.TO) gained 7.3% and Precision Drilling Corporation (PD.TO) climbed 4.2%.

CCL Industries (CCL.A.TO), Spin Master Corp (TOY.TO), Molson Coors Canada (TPX.B.TO), Tourmaline Oil Corp (TOU.TO), Linamar Corp (LNR.TO), Ag Growth International (AFN.TO) and Canadian National Railway (CNR.TO) gained 1 to 3%.

Softchoice Corp (SFTC.TO) drifted down more than 5%. MTY Food Group (MTY.TO), Aritzia Inc (ATZ.TO), Bombardier Inc (BBD.B.TO), Shopify Inc (SHOP.TO), BRP Inc (DOO.TO), Royal Bank of Canada (RY.TO) and Fairfax Financial Holdings ended lower by 1 to 3%.

On the economic front, data from Statistics Canada showed new home prices in Canada were unchanged from the previous month in March of 2023, after falling 0.2% in the prior month. Prices rose by 0.2% from the previous year in March of 2023, the least since January of 2020.

A separate data from Statistics Canada showed wholesale sales in Canada fell 0.4% month-over-month in March 2023, after a 1.7% drop in February.

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