TSX Ends Lower Again, Sheds 2.3% In Week
(RTTNews) - The Canadian market ended on a negative note on Friday, weighed down by losses in technology, industrials and real estate sectors.
Consumer staples and select healthcare stocks found some support, while shares from the rest of the sectors ended on a mixed note.
The benchmark S&P/TSX Composite Index ended with a loss of 57.43 points or 0.29% at 20,074.65, slightly off the day's low. The index shed about 2.3% in the week, losing on all the four sessions.
On the economic front, data from Statistics Canada showed the Canadian economy added 39,900 jobs in August 2023, far exceeding market expectations of a 15,000 thousand increase.
The unemployment rate in Canada was at 5.5% in August of 2023, remaining unchanged from the 18-month high from the previous month and slightly below market estimates of 5.6%.
Meanwhile, average hourly earnings for permanent employees in Canada increased by 5.2% yoy to $34.79 in August 2023, rising from a 5% growth in the previous month.
Ag Growth International (AFN.TO), ATS Corporation (ATS.TO), Ero Copper Corp (ERO.TO), Shopify Inc (SHOP.TO), CCL Industries (CCL.A.TO), Docebo Inc (DCBO.TO), Linamar Corporation (LNR.TO) and TFI International (TFII.TO) lost 2 to 4%.
Among the gainers, Enghouse Systems (ENGH.TO) ended nearly 5% down. Alimentation Couche-Tard (ATD.TO), Precision Drilling Corporation (PD.TO), Canadian Tire Corporation (CTC.TO), National Bank of Canada (NA.TO) and Onex Corporation (ONEX.TO) gained 1 to 2%.
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