TSX Ends Notably Lower For 2nd Straight Session
(RTTNews) - The Canadian market ended notably lower on Monday, weighed down by losses in healthcare, technology, consumer discretionary and financials sectors.
Worries about aggressive monetary tightening by the Federal Reserve and other central banks, and rising fears about a recession weighed on stocks.
Investors looked ahead to Fed Chair Jerome Powell's keynote address at the Kansas City Fed's annual economic symposium this week.
The benchmark S&P/TSX Composite Index ended with a loss of 136.46 points or 0.68% at 19,974.92, which was the day's high. The index touched a low of 19,837.79 in the session.
Turquoise Hill Resources (TRQ.TO) tumbled 9.5%. Magna International (MG.TO), Linamar Corp (LNR.TO) and Jamieson Wellness (JWEL.TO) 6 to 6.5%.
Cogeco Inc. (CGO.TO) drifted down more than 3.5%, while Colliers Internatinoal (CIGI.TO), Kinaxis Inc (KXS.TO), Fairfax Financial Holdings (FFH.TO), West Fraser Timber (WFG.TO) and WSP Global (WSP.TO) ended lower by 1.7 to 2.6%.
Vermilion Energy (VET.TO) rallied more than 5%. Tecsys Inc (TCS.TO), Nutrien (NTR.TO), Agnico Eagle Mines (AEM.TO), Imperial Oil (IMO.TO), Dollarama (DOL.TO) and TC Energy Corporation (TRP.TO) gained 1 to 3%.
On the economic front, data from Statistics Canada showed new home prices in Canada increased by 0.1% from a month earlier in July of 2022. That was the smallest rise in two years.
On a yearly basis, new home prices rose 7.5% in July, decelerating for the fourth month in a row.
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