TSX Ends Lower For 2nd Straight Day

(RTTNews) - The Canadian stock market ended weak on Wednesday, despite fairly encouraging GDP data and a sharp rise in crude oil prices.

Worries about a surge in coronavirus cases across the globe and uncertainty about the pace of global economic recovery due to fresh lockdown measures weighed on the market.

Investors also continued to react to updates on discussions over U.S. coronavirus relief package and the U.S. presidential debate that took place Tuesday night.

The benchmark S&P/TSX Composite Index ended with a loss of 90.14 points or 0.56% at 16,121.38, after scaling a low of 16,090.60 and a high of 16,273.75 intraday.

Energy, telecom and materials shares traded weak. Stocks from industrials, information technology and consumer staples too were mostly subdued. Healthcare and real estate stocks were in demand, while financial and consumer discretionary shares ended mixed.

OceanaGold Corporation (OGC.TO) tumbled more than 9%. Bombardier Inc. (BBD.B.TO) shed about 4.35% and TC Energy (TRP.TO) slid 3.45%, while Kinross Gold (K.TO), Suncor Energy (SU.TO) and Barrick Gold Corporation (ABX.TO) lost 1.25 to 1.75%.

Enghouse Systems (ENGH.TO), Constellation Software (CSU.TO), CargoJet (CJT.TO), Maxar Technologies (MAXR.TO) and Canadian Tire Corporation (CTC.TO) closed notably lower.

Lundin Mining Corporation (LUN.TO) surged up 5.25% and Air Canada (AC.TO) climbed 2.7%.

Data from Statistics Canada showed the Canadian economy grew for a third consecutive month, expanding 3% over a month earlier in July 2020, after expanding 6.5% a month earlier.