TSX Ends Slightly Weak
(RTTNews) - After staying positive till around mid-morning, Canadian stocks turned weak and spent the rest of the day's session in negative territory on Tuesday with investors looking for directional clues.
The U.S. producer price inflation data that showed a bigger than expected increase in producer prices in April, raised concerns the Federal Reserve will likely hold interest rates higher for a longer period.
The benchmark S&P/TSX Composite Index ended lower by 15.83 points or 0.07% at 22,243.34. The index, which advanced to 22,309.03 at the start, touched a low of 22,182.88 in the session.
Hudbay Minerals (HBM.TO) soared 14.1%. The company reported net earnings $18.5 million for the first quarter, compared to net earnings of$33.5 million in the fourth quarter of 2023.
Tucows Inc (TC.TO) zoomed 13%, while First Quantum Minerals (FM.TO) and Evertz Technologies (ET.TO) climbed 8.7% and 8.6%, respectively.
Docebo Inc (DCBO.TO), Ag Growth Corporation (AFN.TO), Celestica Inc (CLS.TO), Teck Resources (TECK.A.TO), Cameco Corporation (CCO.TO), BRP Inc (DOO.TO), Stella-Jones (SJ.TO) and Kinaxis Inc (KXS.TO) gained 1 to 3%.
GFL Environmental Inc (GFL.TO) ended down 3.6%. MTY Food Group (MTY.TO) ended lower by 2.6%. Descartes Systems (DSG.TO), Molson Coors Canada Inc (TPX.B.TO), Constellation Software (CSU.TO), RB Global Inc (RBA.TO), goeasy (GSY.TO) and Canadian Pacific Kansas City (CP.TO) lost 1 to 2%.
On the economic front, data from Statistics Canada showed car registrations in Canada increased to 172,104 Units in March from 136622 Units in February.
Another report from Statistics Canada showed wholesale sales in Canada fell by 1.1% month-over-month in March, slightly less than initial estimates of a 1.3% drop.
European Shares Likely To Open On Cautious Note Ahead Of Fed Minutes
Indian Shares Drift Lower Ahead Of RBI Rate Decision
Australian Market Trims Early Losses In Mid-market
Asian Markets Trade Mostly Lower
Indian Shares Seen Lower As Investors Await RBI Policy Outcome
Higher Open Called For Thai Stock Market
Japanese Market Modestly Lower
