TSX Extends Losses To 4th Straight Day, Ends Moderately Lower
(RTTNews) - Despite a slightly positive start and a subsequent modest upmove, the Canadian market ended moderately lower on Monday, weighed down by losses in energy, real estate and technology stocks.
Materials, healthcare and utilities stocks were among the other notable losers. Consumer staples stocks fared well.
The benchmark S&P/TSX Composite Index ended down by 159.79 points or 0.73% at 21,740.20, near the day's low. The index advanced to 22,025.04 in early trades.
Energy stocks Athabasca Oil Corp (ATH.TO) and Advantage Oil & Gas (AAV.TO) ended down by 4.3% and 3.5%, respectively. Birchcliff Energy (BIR.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Precision Drilling Corporation (PD.TO), Vermilion Energy (VET.TO), Nuvista Energy (NVA.TO) and Canadian Natural Resources (CNQ.TO) shed 2 to 3.1%.
Real estate stocks Granite Real Estate (GRT.UN.TO), Colliers International (CIGI.TO), Allied Properties Real Estate (AP.UN.TO), First Capital REIT (FCR.UN.TO), Interrent Real Estate (IIR.UN.TO) and Northwest Healthcare Prop (NWH.UN.TO) ended lower by 1.7 to 3%.
In the technology sector, BlackBerry (BB.TO) tanked more than 10%. Hut 8 Corp (HUT.TO), Coveo Solutions (CVO.TO) and Quarterhill Inc (QTRH.TO) ended lower by 6%, 5.4% and 4.4%, respectively. Docebo Inc (DCBO.TO), Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO) and Bitfarms (BITF.TO) lost 3.2 to 4%.
In economic news, final data from Statistics Canada showed Canada's manufacturing sales rose by 0.7% from a month earlier to C$ 71.6 billion in February of 2024, matching the preliminary estimate. In January, sales increased 0.2%.
Meanwhile, wholesale sales in Canada were flat month-over-month at C$82.2 billion in February 2024, compared to a preliminary reading indicating a 0.8% rise and following a revised 0.2% decrease in the prior month.
A separate report from Statistics Canada showed car registrations in Canada increased to 137,686 Units in February from 116,874 Units in January.
Canadian Dollar Eases Against Most Majors
Swiss Market Ends On Weak Note; Pharma Stocks Among Major Losers
European Markets Close Mostly Flat
Canadian Market Drifts Lower On Profit Taking
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
UK Economy Flatlines In July
Bay Street Likely To Open On Mixed Note
