Canadian Market Down In Negative Territory, Set For Another Weak Close

(RTTNews) - The Canadian market is down in negative territory in late afternoon trades on Thursday, weighed down by losses in healthcare, communications and materials sectors.

The benchmark S&P/TSX Composite Index is down 80.01 points or 0.39% at 20,599.53, after having climbed to 20,821.66 earlier in the session.

Canopy Growth Corp (WEED.TO) is down more than 16%. The company said its net loss in the third quarter of fiscal 2023 was $267 million, which is a $151 million increase compared with the net loss in the year-ago quarter.

Tilray Inc (TLRY.TO), Bausch Health Companies (BHC.TO) and Cronos Group Inc (CRON.TO) are down 4.7%, 3.6% and 2.5%, respectively.

Communications stock Telus Corp (T.TO) is down 3.4%. Telus reported adjusted net income of C$333 million for the quarter ended December 2022, compare with adjusted net income of C$331 million a year ago.

Materials shares Equinox Gold Corp (EQX.TO), Oceanagold (OGC.TO), Lundin Mining Corp (LUN.TO), B2Gold Corp (BTO.TO), K92 Mining Inc (KNT.TO), Barrick Gold Corp (ABX.TO) and Seabridge Gold Inc (SEA.TO) are down 3 to 5%.

Thomson Reuters (TRI.TO) is down 2.5% after reporting diluted earnings per share of $0.59 for the fourth quarter of 2022, as against net loss of $0.36 per share in the year-ago quarter.

Cameco Corporation (CCO.TO) is rising 5.4%. The company reported adjusted net earnings of $36 million for the fourth quarter of 2022, up from $23 million in the year-ago quarter.

Colliers International Group Inc (CIGI.TO) is rising more than 7% after reporting adjusted EPS of $2.31 for the three months ended December 31, 2022, compared with adjusted EPS of $2.25 for the three months ended December 31, 2021.

Bombardier Inc (BBD.A.TO) is down 10%. The company reported net income of $241 million for the quarter ended December 2022, compared with net income of $239 million in the year-ago quarter.