TSX Falls More Than 1%

(RTTNews) - The Canadian market ended notably lower on Monday, weighed down by losses in stocks from across several sectors, as the mood remained bearish amid concerns about growth, interest rate hikes, and fresh curbs in Shanghai following a surge in new Coronavirus cases.

Weak commodity prices hurt as well. Investors largely stayed cautious, looking ahead to the Bank of Canada's interest rate decision, due on Wednesday.

The benchmark S&P/TSX Composite Index ended with a loss of 206.06 points or 1.08% at 18,816.80.

The Health Care Capped Index drifted down 4.56%. Canopy Growth Corp (WEED.TO) and Aurora Cannabis (ACB.TO) plunged 11.5% and 10.44%, respectively. Tilray Inc (TLRY.TO) dropped 7.67%, Cronos Group (CRON.TO) drifted down 5.68% and Bausch Health Companies (BHC.TO) ended nearly 4% down.

The Information Technology Capped Index declined nearly 4%. Shopify Inc (SHOP.TO) shed about 8.8%, Lightspeed Commerce (LSPD.TO) and Nuvei Corp (NVEI.TO), both ended lower by about 7.1%, Hut 8 Mining (HUT.TO) lost 6.6% and Absolute Software Corp (ABST.TO) ended 6.18% down. Kinaxis (KXS.TO), Sierra Wireless (SW.TO), BlackBerry (BB.TO) and Dye & Durham (DND.TO) also declined sharply.

Link Administration Holdings Limited (LNK) on Monday rejected a A$4.57 per share revised buy-out proposal from Dye & Durham Limited.

Paramount Resources (POU.TO), MEG Energy (MEG.TO), Cenovus Energy (CVE.TO), Arc Resources (ARX.TO) and Suncor Energy (SU.TO) were among the major losers in the Energy section.

In the materials space, First Quantum Minerals (FM.TO) and Hudbay Minerals (HBM.TO) lost 8.3% and 7.2%, respectively. Teck Resources (TECK.B.TO) ended 4.4% down, and Stelco Holdings (STLC.TO) shed nearly 4%.

Consumer discretionary stocks Aritzia Inc (ATZ.TO), Linamar Corp (LNR.TO), Canada Goose Holdings (GOOS.TO), Gildan Activewear (GIL.TO), Magna International (MG.TO) and Brp Inc (DOO.TO) lost 2.5 to 4.8%.