Canadian Market Ends Weak For 2nd Straight Day, Sheds 1.6% In Week

(RTTNews) - The Canadian market closed weak on Friday, amid concerns about global economic growth and tariff hike threats by U.S. President-elect Donald Trump. Materials, communications and real estate stocks were the major losers.

The benchmark S&P/TSX Composite Index, which opened slightly down, fell to a low of 25,216.42 and ended the day's session at 25,274.30 with a loss of 136.41 points or 0.54%. The index shed about 1.6% in the week.

Enghouse Systems (ENGH.TO) tanked nearly 13% after reporting a drop in net income in the fourth quarter of this fiscal. The company reported net income of $22.6 million, compared to $25.1 million in the year-ago quarter.

TerraVest Industries (TVK.TO) closed down 7.2% on lower quarterly earnings. The company reported fourth-quarter net income of $12.83 million, compared to $17.39 million in the year-ago quarter.

Endeavour Mining (EDV.TO), Cameco Corporation (CCO.TO), West Fraser Timber (WFG.TO), Cargojet (CJT.TO), Teck Resources (TECK.B.TO) and Waste Connections (WCN.TO) lost 2.3 to 3.2%.

Dye & Durham (DND.TO) zoomed 11.4%. Celestica Inc (CLS.TO) jumped 9.1%. Tecsys (TCS.TO), Velan Inc (VLN.TO) and Capital Power Corporation (CPX.TO) also closed with strong gains.

On the economic front, data from Statistics Canada showed manufacturing sales in the country rose 2.1% month-over-month in October, rising for the first time in three months.

Wholesale sales in Canada rose 1% month-over-month in October, extending the revised 1.3% increase in September.

Canadian industries operated at 79.3% of their production capacity in the third quarter of this year, up slightly from 79.1% in the second quarter.

Car registrations in Canada dropped to 163,577 units in October from 166,557 units in September, a report from Statistics Canada showed.