TSX Sinks by Close

(MENAFN – Baystreet.ca) Equities in Canada’s largest market failed to hold onto gains by the closing bell on Tuesday, as gains in health-care stocks proved less than the equal to resource stocks.

The S&P/TSX Composite Index nudged lower 13.26 points to end Tuesday at 16,502.20

The Canadian dollar gained 0.11 cents at 74.88 cents U.S.

Gold stocks were particularly hard hit. Eldorado Gold fell 27 cents, or 4.5%, to $5.72, followed by Goldcorp drooped 24 cents, or 1.6%, to $15.26.

Among materials stocks, Agnico Eagle Mines floundered $1.58, or 2.8%, to $55.82, while Stella-Jones lost eight cents to $45.48.

Real-estate also took some slings and arrows, with Colliers International Group fading 71 cents to $91.98, while Brookfield Asset Management shed 23 cents to $63.98.

Among health-care issues, Canopy Growth was up $1.10, or 2%, to $55.50, while Aurora Cannabis advanced 45 cents, or 3.9%, to $11.82.

Among consumer discretionary stocks, Canadian Tire gathered 61 cents to $147.19, while Magna International gained $1.38, or 1.9%, to $73.49.

The financials sector also gained, led by gains in Element Fleet Management, up four cents to $8.14, and ECN Capital, up one cent to $4.22.

On the economic calendar, Statistics Canada reported that offshore investors bought $12 billion into Canadian investments in February following a significant investment of $28.6 billion in January, while Canadians investment in foreign securities increased to $5.3 billion, led by purchases of U.S. corporate bonds.

Also, the agency said, manufacturing sales in Canada edged down 0.2% in February to $56.6 billion, following a 0.8% increase in January.

Lower sales at motor vehicle assembly and wood products industries were largely offset by gains in the petroleum and coal product, paper and machinery industries.


The TSX Venture Exchange fell 8.85 points to 609.97

Eight of the 12 Toronto subgroups were negative on the day, as gold dulled in price 2.2%, with materials and real-estate

Read More Here...

Bookmark the permalink.