Canadian Market Ends On Weak Note
(RTTNews) - The Canadian market ended on a weak note on Thursday after languishing in the red right through the day's session, as rate hike concerns and the possible adverse impact of rising interest rates on economic growth weighed on stocks.
Shares from technology, industrials, real estate, utilities and financials sections were among the notable losers. Energy and materials shares found support. A few stocks from consumer discretionary and healthcare sections too climbed higher.
The benchmark S&P/TSX Composite Index, which dropped to a low of 19,386.71, ended the session with a loss of 81.99 points or 0.42% at 19,506.84.
BlackBerry (BB.TO), Toronto-Dominion Bank (TD.TO), Shopify Inc (SHOP.TO) and Kinross Gold Corporation (K.TO) lost 2.4 to 2.8% on huge volumes.
Docebo Inc (DCBO.TO) ended more than 4% down. Kinaxis Inc (KXS.TO) drifted down by about 3.7%. Colliers International (CIGI.TO), Waste Connections (WCN.TO), Descartes Systems Group (DSG.TO), Thomson Reuters (TRI.TO), TFI International (TFII.TO) and Fairfax Financial Holdings (FFH.TO) ended with sharp to moderate losses.
Atco Inc (ACO.Y.TO), Teck Resources (TECK.A.TO), Tecsys Inc (TCS.TO), Precision Drilling Corporation (PD.TO), Nutrien (NTR.TO), Sprott Inc (SII.TO), Methanex Corporation (MX.TO), Sierra Wireless (SW.TO) and Suncor Energy (SU.TO) gained 2 to 5%.
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