TSX Sags After Mostly Positive Week

Feb 07, 2020 (Baystreet.ca via COMTEX) — Equities in Canada’s largest centre took a break from climbing to heights that took them to new records, as health-care and resource stocks took body blows.

The TSX Composite Index retreated 102 points Friday to close out the week to 17,665.49, still, a 2% hike on the week.

The Canadian dollar lost 0.08 cents to 75.18 cents U.S.

Health-care stocks took the biggest pounding as Aurora Cannabis plummeted 42 cents, or 15.7%, to $2.25, while Aphria weakened 22 cents, or 3.8%, to $5.61.

Materials stocks were battered as well, with Hudbay Minerals bruised 28 cents, or 6.5%, to $4.04, and ERO Copper tumbling $1.39, or 7.5%, to $17.21.

Among energy stocks, MEG Energy was down 36 cents, or 5%, to $6.90, while Baytex Energy slumped six cents, or 4.1%, to $1.41.

Utilities tried to cheer things up, with Algonquin Power & Utilities progressing 66 cents, or 3.3%. to $20.70, while Transalta Corporation was stronger by 17 cents, or 1.7%, to $10.30.

In communications, Cogeco Communications muscled up $1.63, or 1.5%, to $110.25, and TELUS climbing 43 cents to $54.48.

In real estate, Northwest Healthcare Properites REIT units soared 24 cents, or 1.9%, to $12.65, while Allied Properties REIT gained $1.06, or 1.9%, to $57.20.

In the economic docket, Statistics Canada reported employment increased by 35,000, or 0.2%, in January, all in full-time work. The unemployment rate fell 0.1 percentage points to 5.5%

Western University’s Ivey PMI jumped to 57.3 in January from 51.9 in the previous month and 54.7 in January 2019

ON BAYSTREET

The TSX Venture Exchange slid 3.84 points to close Friday at 574.16, a weekly loss of 0.2%.

All but three of the 12 TSX subgroups were negative, with health-care down 4.9%, materials swooned 2%, and energy was weaker 1.7%.

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