Canadian Market Ends Moderately Lower

RTTNews | 612天前

(RTTNews) - The Canadian market ended lower on Tuesday as weak oil prices weighed on energy stocks. Shares from materials and utilities sectors also declined sharply.

Investors digested the data on U.S. consumer price inflation, and looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.

The benchmark S&P/TSX Composite Index, which dropped to 20,162.09, ended the day's session with a loss of 84.52 points or 0.42% at 20,233.84.

Cogeco Communications (CCA.TO) ended lower by 6% after Rogers Communications said it will sell all of its subordinate voting shares in Cogeco and Cogeco Communications to Quebec's provincial pension plan manager for C$829 million.

Spin Master Corp (TOY.TO), Tourmaline Oil Corp (TOU.TO), Nutrien (NTR.TO), Precision Drilling Corporation (PD.TO) and Franco-Nevada Corporation (FNV.TO) lost 3 to 4%.

BRP Inc (DOO.TO), Wheaton Precious Metals (WPM.TO), Newmont Corporation (NGT.TO), TFI International (TFII.TO), Onex Corporation (ONEX.TO), West Fraser Timber (WFG.TO) and Constellation Software (CSU.TO) ended lower by 1 to 2.6%.

Among the gainers, Stelco Holdings (STLC.TO) climbed 7.8%. GFL Environmental (GFL.TO), Gildan Activewear (GIL.TO), Waste Connections (WCN.TO), Boyd Group Companies (BYD.TO) and Cameco Corporation (CCO.TO) ended down 2 to 5%.

Goeasy (GSY.TO), Restaurant Brands International (QSR.TO), CGI Inc (GIB.A.TO), Thomson Reuters (TRI.TO), Molson Coors Canada (TPX.B.TO), Canadian Pacific Kansas City (CP.TO) and Descartes Systems Group (DSG.TO) advanced 1.5 to 2%.

Data from the Labor Department showed the consumer price index crept up by 0.1% in November after coming in unchanged in October. The uptick matched expectations.

Excluding food and energy prices, core consumer prices rose by 0.3% in November after edging up by 0.2% in October. The increase in core prices also came in line with estimates.

The report also said the annual rate of consumer price growth slipped to 3.1% in November from 3.2% in October, while the annual rate of core consumer price growth was unchanged at 4%.

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