TSX Ends Notably Lower; Technology, Materials Shares Post Sharp Losses

RTTNews | 1214 days ago
TSX Ends Notably Lower; Technology, Materials Shares Post Sharp Losses

(RTTNews) - The Canadian market ended notably lower on Tuesday, weighed down by losses in technology, industrials, materials and consumer sectors.

Several stocks from the communications section also closed sharply lower. Energy stocks gained as oil prices moved higher.

Worries about growth and interest rates, and concerns over a standoff in U.S. debt ceiling talks weighed on sentiment.

The benchmark S&P/TSX Composite Index ended down 205.05 points or 1.01% at 20,146.01, slightly off the day's low.

MTY Food Group Inc (MTY.TO), Teck Resources (TECK.B.TO), CCL Industries (CCL.B.TO), Constellation Software (CSU.TO), Canadian Pacific Kansas City (CP.TO) and Wheaton Precious Metals (WPM.TO) ended lower by 4 to 5%.

Boyd Group Services (BYD.TO), Canadian National Railway (CNR.TO), Cargojet Inc. (CJT.TO), Loblaw Companies (L.TO), FirstService Corporation (FSV.TO), CGI Inc. (GIB.A.TO) and George Weston (WN.TO) drifted down 2.4 to 3.5%.

Kinaxis (KXS.TO), Bombardier Inc (BBD.B.TO), CAE Inc. (CAE.TO), Waste Connections (WCN.TO), Franco-Nevada Corporation (FNV.TO) and Stantec Inc (STN.TO) also ended sharply lower.

Africa Oil Corp (AOI.TO) climbed 8.5%. Cameco Corporation (CCO.TO) gained more than 5%. MEG Energy and Onex Corporation (ONEX.TO) both surged about 4%. Imperial Oil (IMO.TO), Canadian Natural Resources (CNQ.TO) and IA Financial Corporation (IAG.TO) also posted strong gains.

In economic news, raw materials prices in Canada fell 10.8% in April 2023, less than market expectations of a 24.5% decline. Producer prices unexpectedly edged down by 0.2% in April, following a revised 0.1% fall in the prior month.

read more
U.S. Leading Economic Index Unexpectedly Edges Lower In August

U.S. Leading Economic Index Unexpectedly Edges Lower In August

A report released the Conference Board on Friday unexpectedly showed a modest decrease by its reading on leading U.S. economic indicators in the month of August. The Conference Board said its leading economic index edged down by 0.1 percent in August after rising by 0.2 percent in July. Economists had expected the index to inch up by 0.1 percent.
RTTNews | 3h 29min ago
U.S. Industrial Production Unexpectedly Flat In August

U.S. Industrial Production Unexpectedly Flat In August

With a jump in utilities output offset by a decrease in manufacturing output, the Federal Reserve released a report on Friday showing U.S. industrial production unexpectedly came in flat in the month of August. The Fed said industrial production was unchanged in August after rising by an unrevised 0.2 percent in July. Economists had expected industrial production to climb by 0.3 percent.
RTTNews | 3h 37min ago
UK Retail Sales Recover Unexpectedly

UK Retail Sales Recover Unexpectedly

UK retail sales rebounded unexpectedly in August underpinned by online shopping and warm weather boosted sales of seasonal items, data from the Office for National Statistics revealed Friday. Retail sales grew 0.5 percent on a monthly basis, offsetting July's 0.5 percent fall. Sales were expected to drop 0.2 percent.
RTTNews | 4h 20min ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian stocks are likely to open on mixed note on Friday, with investors tracking commodity prices and assessing recent monetary policy moves and weighing inflation outlook. Activity for most part of the session could be a bit lackluster amid a lack of fresh data or corporate news.
RTTNews | 4h 55min ago
French Stocks Shed Ground On Inflation Concerns

French Stocks Shed Ground On Inflation Concerns

French stocks shed ground on Friday, retreating after two successive days of gains, as concerns about inflation and fears of policy tightening by some major central banks rendered the mood cautious. A survey by the European Central Bank showed Euro Zone consumers nudged up their inflation expectations last month.
RTTNews | 7h 2min ago
DAX Notably Lower As Inflation Concerns Weigh

DAX Notably Lower As Inflation Concerns Weigh

German stocks drifted lower on Friday amid concerns about inflation after a survey by the European Central Bank showed Euro Zone consumers nudged up their inflation expectations last month.
RTTNews | 7h 21min ago