TSX Ends Weak As Technology, Energy Stocks Post Sharp Losses

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(RTTNews) - The Canadian market ended weak on Thursday, weighed down by losses in healthcare, technology and energy sectors.

Several stocks from consumer discretionary, industrials and materials sectors too posted sharp losses.

The mood in the market was cautious as investors awaited Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday.

The benchmark S&P/TSX Composite Index settled with a loss of 103.96 points or 0.52% at 19,775.83. The index, which opened marginally down, moved higher subsequently, but retreated soon and spent the rest of the day's session in negative territory.

Tilray Inc (TLRY.TO) plunged more than 9%. Bausch Health Companies (BHC.TO) ended nearly 1% down.

Among technology stocks, Dye & Durham ended nearly 5% down. Lightspeed Commerce (LSPD.TO) dropped 3.75%, while BlackBerry (BB.TO) and Kinaxis Inc (KXS.TO) ended down 2.9% and 2.56%, respectively. Shopify Inc (SHOP.TO), Constellation Software (CSU.TO), Coveo Solutions (CVE.TO) and Docebo Inc (DCBO.TO) also ended notably lower.

Energy stocks MEG Energy Corp (MEG.TO), Advantage Oil & Gas (AAV.TO), Paramount Resources (POU.TO), Crescent Point Energy (CPG.TO), Precision Drilling Corporation (PD.TO), Tourmaline Oil Corp (TOU.TO) and Cenovus Energy (CVE.TO) lost 1.6 to 4%.

Toronto-Dominion Bank (TD.TO) ended 3.2% down. The bank reported adjusted net income $3,731 million for the third quarter, compared with $3,813 million a year ago. The bank also announced that it intends to launch a new issuer bid to repurchase up to 90 million shares, representing around 4.9% of the 1.827 billion shares issued and outstanding as of July 31.

Royal Bank of Canada (RY.TO) climbed nearly 2%. The bank reported net income of $3.9 billion for the quarter ended July 31, 2023, up $295 million or 8% from the prior year. The bank reported adjusted net income and adjusted EPS of $4.0 billion and $2.84, respectively, both up 11% from the prior year.

On the economic front, preliminary data showed that manufacturing sales in Canada likely rose by 0.7% month-over-month in July 2023, rebounding from a 1.7% decline in June.

Sensex, Nifty Subdued In Lackluster Trade

Indian shares were subdued on Tuesday as investors locked in some profits after recent gains, driven by optimism over easing global trade tensions and expectations of corporate earnings rebound.

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Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 9,050 level, with weakness across most sectors led by gold miners and technology stocks. Financial stocks are the only bright spot.

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Asian Markets Mixed Amid Cautious Trades

Asian stock markets are mixed on Tuesday, following the positive cues from Wall Street overnight, as traders remain cautious and are reluctant to take major positions ahead of the monetary policy announcements from the European Central Bank, the US Fed and the Bank of Japan this week. Optimism about a potential U.S.-China trade deal and an interest rate cut by the Fed are aiding market sentiment.

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Sensex, Nifty To See Muted Start

Indian shares look set to open on a muted note Tuesday, tracking mostly weak cues from other Asian markets.

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Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday, reversing some of the strong gains in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 50,400 level, with a mixed performance across most sectors.

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Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, reversing to the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 9,050 level, with weakness across most sectors led by gold miners and technology stocks. Financial stocks are the only bright spot.

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Canadian Dollar Falls Against Majors

The Canadian dollar weakened against its major counterparts in the New York session on Monday.

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Swiss Market Ends Modestly Lower

The Switzerland market closed on a weak note on Monday, after languishing in negative territory right through the day's trading session as investors remained hesitant to pick up stocks, choosing to wait for some crucial economic data, and the monetary policy announcements from several central banks.

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EURUSD	1.16673	GBPUSD	1.3369	AUDUSD	0.65622
USDJPY	151.839	USDCAD	1.39837	USDCHF	0.79334