TSX Ends Lower For 6th Straight Day
(RTTNews) - Canadian stocks drifted lower on Friday, extending losses to a sixth straight session, amid rising concerns interest rate hikes will hurt growth and weigh on corporate earnings as well.
Healthcare, utilities, financials and energy stocks fell. Several stocks from industrials sector too posted sharp losses.
The benchmark S&P/TSX Composite Index ended with a loss of 162.67 points or 0.83% at 19,418.23, a three-month low.
In the healthcare sector, Canopy Growth Corp (WEED.TO) plunged 11.7% despite reporting a surge in quarterly revenue. The company reported fourth-quarter net revenue of $87.5 million, up 14% compared to the net revenue the company recorded in the year-ago quarter.
Tilray Inc (TLRY.TO) ended more than 6% down, while Bausch Health Companies (BHC.TO) lost about 2.1%.
Among utilities stocks, Algonquin Power and Utilities Corp (AQN.TO), Transalta Renewables (RNW.TO), Transalta Corp (TA.TO), Altagas (ALA.TO) and Capital Power Corp (CPX.TO) lost 2 to 3.45%.
Among financials shares IA Financial Corp (IAG.TO) ended more than 4% down. Goeasy (GSY.TO), EQB Inc (EQB.TO), National Bank of Canada (NA.TO), Power Corp of Canada (POW.TO), Bank of Montreal (BMO.TO) and Manulife Financial (MFC.TO) lost 1 to 2.6%.
Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO), Imperial Oil (IMO.TO) and MEG Energy Corp (MEG.TO) were among the major losers in the energy sector.
Thomson Reuters (TRI.TO), FirstService Corporation (FSV.TO), Kinaxis Inc (KXS.TO), Docebo Inc (DCBO.TO) and Endeavour Mining Inc (EDV.TO) gained 1 to 2.5%.
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