TSX Ends Final Session Of The Year On Weak Note, Posts Yearly Loss Of 8.7%
(RTTNews) - After opening slightly down, the Canadian market emerged into positive territory Friday morning, but slipped within the next few minutes and then spent the rest of the day's session in the red.
Worries about global economic slowdown, rising interest rates, and escalation in tensions between Russia and Ukraine all contributed to the negative sentiment in the market.
The benchmark S&P/TSX Composite Index ended the final session of the year with a loss of 100.97 points or 0.52% at 19,384.92, after scaling a high of 19,496.21 and a low of 19,332.84 intraday. The index shed about 8.7% in the year.
Shares from utilities, materials, financials and industrials sectors were among the notable losers. Communications shares rose sharply. A few stocks from energy and healthcare sectors posted notable gains.
First Quantum Minerals (FM.TO) ended nearly 4% down. West Fraser Timber (WFG.TO), Brookfield Infrastructure Corporation (BIPC.TO), Magna International (MG.TO), Cargojet (CJT.TO), Canadian National Railway (CNR.TO), Canadian Pacific Railway (CP.TO) and Royal Bank of Canada (RY.TO) shed 1 to 2.6%.
Coveo Solutions (CVO.TO) soared nearly 14%. Shaw Communications (SJR.B.TO) zoomed 9% and Rogers Communications (RCI.A.TO) climbed 5.7%. Cogeco Communications (CCA.TO) surged nearly 1.5%.
Softchoice Corporation (SFTC.TO), Bausch + Lomb Corporation (BLCO.TO), CCL Industries (CCL.A.TO) and Boyd Group Services (BYD.TO) gained 1 to 4.3%.
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