TSX Ends Flat After Lackluster Session

(RTTNews) - The Canadian stock market traded in negative territory almost right through the session on Thursday, but the downside was not any significantly pronounced as investors mostly stayed on the sidelines due to Thanksgiving holiday in the U.S.

With no big economic data or corporate events to provide direction, activity in the market was subdued. On Friday, Statistics Canada will release its reports on consumer price inflation for October and retain sales for the month of September.

The benchmark S&P/TSX Composite Index ended at 15,091.58, down 3.44 points, or 0.02% from previous close. The index scaled a low of 15,059.11 and a high of 15,105.670 in the session.

On Wednesday, the index ended up 218.02 points, or 1.47%, at 15,095.02, after scaling a low of 14,938.27 and a high of 15,195.38 in the session.

On the economic front, a report from Statistics Canada said the number of people drawing regular employment insurance benefits dropped to 446,500 in September, down 14,300, or 3.1%, from August.

A few stocks from energy, materials and information technology posted strong gains. Healthcare stocks traded weak. Financial, consumer staples, consumer discretionary and industrials shares were mostly subdued.

Among energy stocks, Vermilion Energy Inc. (VET.TO) gained 2.2% and ARC Resources (ARX.TO) gained nearly 2.5%. BayTex Energy Corp. (BTE.TO) surged up 2.5%. PrairieSky Royalty (PSK.TO) ended lower by over 1.75%.

In the materials space, Barrick Gold Corporation (ABX.TO) gained 1.35%, B2 Gold Corp (BTO.TO) advanced by 1.4% and Methanex Corporation (MX.TO) added 1.15%. First Quantum Minerals (FM.TO) declined by 2.9%.

Healthcare stocks were weak with investors reacting to reports that Alberta may temporarily stop issuing licenses to sell cannabis and ration supply amid a countrywide marijuana shortage.

Bausch Health Companies Inc. (BHC.TO), Canopy Growth Corporation (WEED.TO) and Aphria Inc. (APHA.TO) ended lower by 0.7% to 1.2%. Aurora Cannabis Inc. (ACB.TO) declined by about 3%.

Among bank stocks, Royal Bank of Canada (RY.TO) declined by nearly 1% and National Bank of Canada (NA.TO) ended lower by about 0.5%.

Bombardier Inc. (BBD.B.TO) ended with a big gain of 10.6%.

Asian markets ended mostly lower on Thursday amid concerns about U.S. - China trade disputes. Markets now look ahead to the meeting between U.S. President Donald Trump and Chinese President Xi Jinpin during the upcoming G-20 summit in Argentina.

European stocks drifted lower on thin volumes. U.K.'s pound sterling surged on news that European Union and U.K. negotiators reached a deal on the outlines of future U.K.- EU ties. In the upcoming EU summit on Sunday, the leaders are expected to sign off on the draft text.

In commodities, crude oil futures for January were down $0.77, or 1.41%, at $53.86 a barrel.

Gold futures for December settled at $1,227.90 an ounce, down $0.10 from previous close.

Silver futures for December were down $0.03, or 0.21%, at $14.595 an ounce, while Copper futures for December were up $0.006, or 0.21%, at $2.8005 per pound.