Advertisement
TSX Ends Weak For 5th Straight Session, Sheds 4.1% In Week
(RTTNews) - After opening modestly higher and staying positive till about an hour past noon, the Canadian market turned weak on Friday and eventually ended on a negative note, extending losses to a fifth straight session.
Worries about inflation, higher interest rates and economic slowdown weighed on the market.
The benchmark S&P/TSX Composite Index ended with a loss of 11.65 points or 0.06% at 19,779.97. The index, which climbed to 19,898.94 early on in the session, touched a low of 19,769.34. The index shed about 4.1% in the week.
Shares from utilities and communications sectors found some support. Real estate stocks were weak, while shares from the rest of the sectors turned in a mixed performance.
Premium Brands Holdings Corporation (PBH.TO), National Bank of Canada (NA.TO), Shopify Inc (SHOP.TO), Magna International (MG.TO) and Goeasy (GSY.TO) ended notably lower.
ATS Corporation (ATS.TO) climbed 3.6%. Cameco Corporation (CCO.TO) gained 3.5% and Bombardier Inc (BBD.B.TO) ended higher by about 3.1%.
TFI International (TFII.TO), Descartes Systems Group (DSG.TO), Imperial Oil (IMO.TO) and Fairfax Financial Holdings (FFH.TO) gained 1 to 2%.
On the economic front, data from Statistics Canada showed retail sales in Canda are expected to have contracted by 0.3% from the previous month in August, according to preliminary estimate. In July, retail sales advanced by 0.3%, up from the 0.1% increase in the previous month.
Retail sales in Canada increased 2% in July over the same month in the previous year.
TSX Settles Roughly Flat
Euro Climbs Against Most Majors
Swiss Market Ends Slightly Down
European Stocks Close Weak As Tariff Concerns Weigh On Sentiment
TSX Up Marginally After Posting New Record High
German Factory Orders Log Bigger-Than-Expected Fall
Bay Street Headed For Weak Start
