TSX Ends Slightly Lower
(RTTNews) - Despite a strong rally in the materials sector, the Canadian market ended in negative territory on Monday as shares from healthcare, consumer staples and energy sectors shed ground due to sustained selling pressure.
Amid a lack of data, investors were reluctant to pick up stocks. The Bank of Canada is scheduled to announce its monetary policy on Wednesday. The central bank is widely expected to hold its benchmark rate at 5%.
The benchmark S&P/TSX Composite Index, which briefly made it to positive territory around late afternoon, ended down by 21.28 points or 0.1% at 21,531.07.
Healthcare stocks Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) both ended nearly 3% down.
Among energy stocks, Baytex Energy (BTE.TO) ended 3.4% down. Africa Oil Corp (AOI.TO), MEG Energy Corp (MEG.TO), Shawcor (MATR.TO) and Canadian Natural Resources (CNQ.TO) ended lower by 2 to 2.3%.
The North West Company Inc (NWC.TO), down nearly 4%, was the biggest loser in the consumer staples sector. Saputo Inc (SAP.TO) and Jamieson Wellness (JWEL.TO) ended lower by 2.6% and 2.2%, respectively. Loblaw Co (L.TO), Metro Inc (MRU.TO) and George Weston (WN.TO) also ended sharply lower.
The Materials Capped Index climbed 2.1%, as the sector saw some hectic buying thanks to firm bullion prices. Torex Gold Resources (TXG.TO), Seabridge Gold (SEA.TO), First Quantum Minerals (FM.TO), First Majestic Silver (FR.TO), Oceanagold Corp (OGC.TO), Kinross Gold Corp (K.TO), Lundin Gold (LUG.TO), Equinox Gold Corp (EQX.TO) and Eldorado Gold (ELD.TO) gained 5 to 7%.
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