TSX Fails To Hold Early Gains, Ends Marginally Down
(RTTNews) - After opening higher and staying firm till a little before noon, the Canadian market turned subdued and moved along the flat line on Tuesday and finally ended the session on a slightly weak note.
Slowing global economy, and tighter monetary policy stance of several central banks rendered the mood cautious.
Energy and materials shares moved higher on firm crude oil and gold prices. Shares from utilities and financials sectors were weak.
The benchmark S&P/TSX Composite Index, which climbed nearly 230 points to 18,546.76 earlier in the session, ended with a loss of 19.13 points or 0.1% at 18,307.91, about 60 points off the day's low of 18,247.74.
Athabasca Oil Corporation (ATH.TO) rallied 8%. Tamarack Valley Energy (TVE.TO), MEG Energy (MEG.TO), Whitecap Resources (WCP.TO), Crescent Point Energy (CPG.TO) and Baytex Energy (BTE.TO) gained 4.5 to 6%.
Lundin Mining (LUN.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO) and Canadian Natural Resources (CNQ.TO) also posted notable gains.
Dye & Durham (DND.TO) soared 17.3%. Vermilion Energy (VET.TO) surged 10.1%. Cameco Corporation (CCO.TO), Methanex Corporation (MX.TO), CargoJet (CJT.TO), Sprott (SII.TO), Aritzia Inc (ATZ.TO) and Imperial Oil (IMO.TO) gained 3 to 5%.
Canadian Imperial Bank of Commerce (CM.TO) and Shopify Inc (SHOP.TO) ended lower by 2.2% and 1.2%, respectively, on strong volumes.
WSP Global (WSP.TO), CCL Industries (CCL.B.TO), Bank of Montreal (BMO.TO), Waste Connections (WCN.TO) and Fairfax Financial Holdings (FFH.TO) were among the other prominent losers.
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