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TSX Fails To Hold Early Gains, Ends Moderately Lower
(RTTNews) - After a slightly weak start and a subsequent positive spell that lasted around noon, the Canadian market fell into the red and finally ended moderately lower on Thursday.
Some upbeat earnings news from companies like IBM Corp. and AT&T lifted sentiment early on in the session, but stocks started losing ground as the day progressed as rising bond yields weighed.
Industrials, utilties, consumer discretionary and financials shares closed weak. Energy and technology stocks closed notably higher.
The benchmark S&P/TSX Composite Index ended with a loss of 95.11 points or 0.51% at 18,579.29.
Winpak Ltd (WPK.TO) ended more than 7% down. TFI International (TFII.TO), Cogeco Communications (CCA.TO), Canadian National Railway (CNR.TO), Canadian Pacific Railway (CP.TO) and BRP Inc (DOO.TO) lost 2.4 to 5%.
Magnet Forensics (MAGT.TO) rallied more than 6.5%. Shopify Inc (SHOP.TO) surged nearly 5% and First Quantum Minerals (FM.TO) gained 4.2%.
Bombardier Inc (BBD.B.TO), Enbridge Inc (ENB.TO), Lightspeed Commerce (LSPD.TO), Nuvei Corp (NVEI.TO) and Canadian Natural Resources (CNQ.TO) also posted strong gains.
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