TSX Sings by End of Week

Nov 08, 2019 (Baystreet.ca via COMTEX) —

Stocks in Toronto concluded a banner week with sizzling gains, led by health-care and tech issues

The TSX Composite Index heightened 71.67 points to close Friday and the week at 16,877.42

The Canadian dollar backed off 0.30 cents to 75.60 cents U.S.

Health-care stocks ruled the roost Friday, as Canopy Growth vaulted $3.24, or 12.9%, to $28.36, while Cronos Group gained 82 cents, or 7.8%, to $11.28.

Techs flourished, too, as Shopify popped $17.11, or 4.5%, to $393.65, while Descartes Group gained $1.97, or 3.8%, to $53.48.

Gildan Activewear gained 80 cents, or 2.3%, to $36.01, while Canadian Tire advanced $2.90, or 1.9%, to $153.61.

Materials felt heavy, as Cascades lost 51 cents, or 3.8%, to $12.82, while Endeavour Mining dumped 69 cents, or 2.9%, to $23.12.

Novagold dipped 18 cents, or 2.1%, to $8.26.

Real-estate concerns went south, too, as Allied Properties REIT fell 45 cents to $53.22.

On the economic slate, Statistics Canada reported that, following two consecutive months of growth, the job market stagnated unexpectedly in October, losing 1,800 net positions, while the unemployment rate remained at 5.5%. This, as employment declined in the manufacturing and construction sectors.

Analysts had forecast a gain of 15,900 jobs in October and an unemployment rate of 5.5%.

StatsCan also said the total value of building permits issued by Canadian municipalities decreased 6.5% to $8.3 billion in September, largely due to declines in the residential sector.

Gains were reported in four provinces, with the largest increase in Alberta (+7.2% to $1.0 billion).

Elsewhere, Canada Mortgage and Housing Corporation said the seasonally adjusted annual rates of housing starts in Canada dropped 8.7% from a month earlier to 201,973 units in October, missing market expectations of 221,200.


The TSX Venture Exchange gained 3.17 points

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