TSX Ends Weak As Technology, Energy Stocks Post Sharp Losses

RTTNews | 721 일 전

(RTTNews) - The Canadian market ended weak on Thursday, weighed down by losses in healthcare, technology and energy sectors.

Several stocks from consumer discretionary, industrials and materials sectors too posted sharp losses.

The mood in the market was cautious as investors awaited Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday.

The benchmark S&P/TSX Composite Index settled with a loss of 103.96 points or 0.52% at 19,775.83. The index, which opened marginally down, moved higher subsequently, but retreated soon and spent the rest of the day's session in negative territory.

Tilray Inc (TLRY.TO) plunged more than 9%. Bausch Health Companies (BHC.TO) ended nearly 1% down.

Among technology stocks, Dye & Durham ended nearly 5% down. Lightspeed Commerce (LSPD.TO) dropped 3.75%, while BlackBerry (BB.TO) and Kinaxis Inc (KXS.TO) ended down 2.9% and 2.56%, respectively. Shopify Inc (SHOP.TO), Constellation Software (CSU.TO), Coveo Solutions (CVE.TO) and Docebo Inc (DCBO.TO) also ended notably lower.

Energy stocks MEG Energy Corp (MEG.TO), Advantage Oil & Gas (AAV.TO), Paramount Resources (POU.TO), Crescent Point Energy (CPG.TO), Precision Drilling Corporation (PD.TO), Tourmaline Oil Corp (TOU.TO) and Cenovus Energy (CVE.TO) lost 1.6 to 4%.

Toronto-Dominion Bank (TD.TO) ended 3.2% down. The bank reported adjusted net income $3,731 million for the third quarter, compared with $3,813 million a year ago. The bank also announced that it intends to launch a new issuer bid to repurchase up to 90 million shares, representing around 4.9% of the 1.827 billion shares issued and outstanding as of July 31.

Royal Bank of Canada (RY.TO) climbed nearly 2%. The bank reported net income of $3.9 billion for the quarter ended July 31, 2023, up $295 million or 8% from the prior year. The bank reported adjusted net income and adjusted EPS of $4.0 billion and $2.84, respectively, both up 11% from the prior year.

On the economic front, preliminary data showed that manufacturing sales in Canada likely rose by 0.7% month-over-month in July 2023, rebounding from a 1.7% decline in June.

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