TSX Ends Modestly Lower
(RTTNews) - The Canadian market closed on a weak note on Friday, weighed down by losses in technology stocks, following a sell-off in the tech sector on Wall Street as yields on 10-Year U.S. Treasury Note rose to a near 8-month high.
Healthcare stocks found some support, while shares from the rest of the sectors turned in a mixed performance.
The benchmark S&P/TSX Composite Index closed down 50.42 points or 0.2% at 24,796.40, after scaling a low of 24,701.20 and a high of 24,876.75 intraday.
Hut 8 Corp (HUT.TO) ended more than 8% down. ATS Corporation (ATS.TO) closed lower by 3.3%. TFI International (TFII.TO), Shopify Inc (SHOP.TO), Canadian Imperial Bank of Commerce (CM.TO), Rogers Communications (RCI.A.TO), Kinaxis Inc (KXS.TO), goeasy (GSY.TO), Morguard Corporation (MRC.TO), Imperial Oil (IMO.TO) and Descartes Systems Group (DSG.TO) ended down by 1 to 2.3%.
Quebecor Inc (QBR.A.TO), Onex Corporation (ONEX.TO), Bombardier Inc (BBD.A.TO), CAE Inc (CAE.TO) and Versa Bank (VBNK.TO) gained 2 to 3%. Methanex Corporation (MX.TO), Aritzina Inc (ATZ.TO), Open Text Corporation (OTEX.TO), Great-West Lifeco (GWO.TO) and Cogeco Communication (CCA.TO) also closed notably higher.
Sierra Metals Inc. (SMT.TO) gained about 1.2%. The company announced Thursday that a majority of its shareholders have committed not to tender their shares in the event that Alpayana S.A.C. formalizes its proposed unsolicited all-cash take-over bid to acquire all of the issued and outstanding common shares of Sierra Metals for C$0.85 per share.
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