Stocks Tail off to Begin December

Dec 02, 2019 (Baystreet.ca via COMTEX) —

Investors took profits Monday from last week’s sizzling hot gains, as health-care and communications faded from the dizzy heights at the end of the November

The TSX Composite Index moved off its lows of the day, but dropped 58.73 points from Friday’s all-time high, to 16,981.47

The Canadian dollar dropped 0.08 to 75.20 cents U.S.

Health-care issues took a particularly hard pounding, as Aurora Cannabis sagged 11 cents, or 3.3%, to $3.21, while Canopy Growth shed 52 cents, or 2.1%, to $23.99.

In the communications area, Rogers dropped $1.12, or 1.7%, to $61.31, while Cineplex fell 46 cents, or 1.8%, to $24.93.

Among techs, Celestica sifted off 31 cents, or 3%, to $10.07, while Photon Control gave back two cents, or 1.8%, to $1.07.

Gold led the few gaining groups, as Alacer Gold picked up 16 cents, or 2.2%, to $7.30, while Wesdome Gold acquired 24 cents, or 2.8%, to $8.97.

In materials, Pan American Silver gained 84 cents, or 3.3%, to $26.38, while SSR Mining popped 44 cents, or 2.1%, to $21.10.

George Weston led the parade of gainers among consumer staples, strengthening 75 cents to $108.79, while Metro was boosted 37 cents to $58.55.

On the economic calendar, Markit Canada’s Manufacturing Purchasing Managers Index for November increased to 51.4 from 51.2 in the previous month, but below market expectations of 52.6.

Markit’s latest reading pointed to the sharpest expansion in factory activity since February, as output advanced at the fastest pace in nine months amid strong domestic demand; and the job rate rose slightly.

ON BAYSTREET

The TSX Venture Exchange ignored the negative vibes and actually gained 1.5 points to 533.31

Seven of the 12 Toronto subgroups finished the first session of December downward, as health-care and communications each slid 0.8%,

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