TSX Sheds 1.55%, Ends At 2-month Low
(RTTNews) - The Canadian market ended sharply lower on Friday as worries about the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital triggered widespread selling.
Investors also digested Canadian jobs data for the month of February.
For the second successive day, all the sectoral indices ended in the red. Healthcare, technology, financials, real estate and consumer staples shares were the major losers.
The benchmark S&P/TSX Composite Index ended with a loss of 311.80 points or 1.55% at 19,774.92, the lowest close since early January 2022.
Data from Statistics Canada showed the Canadian economy added 21,800 jobs in February of 2023, more than twice the expected increase.
The unemployment rate in Canada held steady at 5% in February of 2023, remaining close to the record-low of 4.9% observed in June and July 2022.
Meanwhile, average hourly earnings for permanent employees in Canada increased by 5.4% from a year earlier in February of 2023, after a 4.5% rise in the prior month.
Enghouse Systems (ENGH.TO) tanked nearly 25%. Onex Corporation (ONEX.TO) ended nearly 5% down. Colliers International (CIGI.TO), Nutrien (NTR.TO), Ritchie Bros. Auctioneers (RBA.TO), Cargojet (CJT.TO) and BRP Inc (DOO.TO) lost 3 to 4%.
Bank of Montreal (BMO.TO), goeasy (GSY.TO), Constellation Software (CSU.TO), FirstService Corporation (FSV.TO), George Weston (WN.TO) also ended sharply lower.
Among the gainers, Endeavour Mining (EDV.TO) climbed 5%. Wheaton Precious Metals (WPM.TO) rallied 3.6%. Rogers Communications (RCI.B.TO) gained about 1.5%.
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