Canadian Market Down In Negative Territory

(RTTNews) - The Canadian market is down in negative territory Wednesday afternoon with investors largely refraining from making significant moves amid escalating tensions between Ukraine and Russia. Concerns about the outlook for global economic growth and interest rate uncertainty are also weighing on sentiment.

The benchmark S&P/TSX Composite Index is down 82.66 points or 0.33% at 24,928.11.

The Consumer Discretionary Capped Index is down 1.3%. Dollarama Inc (DOL.TO) is down 3% and BRP Inc (DOO.TO) is declining 2.7%. Aritzia Inc (ATZ.TO) and Spin Master Corp (TOY.TO) are lower 1.8% and 1.6%, respectively.

Silvercorp Metals (SVM.TO) is plunging 13.4%. The company announced that it has commenced a private placement offering of US$130 million aggregate principal amount of convertible senior notes due 2029. The Company intends to grant the initial purchasers of the Notes an option to purchase up to an additional US$20,000,000 aggregate principal amount of Notes, exercisable in whole or in part at any time until 20 days after the closing of the Offering.

Endeavour Silver Corp (EDR.TO) is down 10.7% after the company announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, pursuant to which the Underwriters have agreed to buy on a bought-deal basis 15,825,000 common shares of the Company at a price of US$4.60 per common share.

Terravest Industries (TVK.TO), Dollarama Inc (DOL.TO), Hut 8 Corp (HUT.TO), BRP Inc (DOO.TO), Cargojet (CJT.TO), TC Energy Corp (TRP.TO), Stella-Jones Inc (SJ.TO), Shopify Inc (SHOP.TO), Alimentation Couche-Tard (ATD.TO), Alimentation Couche Tard (ATD.TO), GFL Environmental (GFL.TO), Royal Bank of Canada (RY.TO) are down 1 to 3%.

Tourmaline Oil Corp (TOU.TO), Dye & Durham (DND.TO), Tecsys Inc (TCS.TO), Arc Resources (ARX.TO), West Fraser Timber (WFT.TO) and Rogers Communications (RCI.A.TO) are gaining 2 to 4%.