TSX Ends Nearly 1% Down, Posts Weekly Loss

(RTTNews) - The Canadian market ended weak on Friday on widespread selling as concerns about inflation, uncertainty about the likely timing of interest rate cuts, and rising geopolitical tensions weighed on sentiment.

All the sectoral indices ended in negative territory. Healthcare, technology, communications, consumer discretionary, utilities, energy, materials and financials stocks fell.

The benchmark S&P/TSX Composite Index ended with a loss of 210.12 points or 0.95% at 21,899.99. The index touched a low of 21,827.35. The index shed about 1.65% in the week.

MTY Food Group Inc (MTY.TO) tanked 10%. The company reported that its first-quarter net income decreased by 6% at C$17.3 million, or C$0.71 per share compared to C$18.4 million, or C$0.75 per share, last year.

Molson Coors Canada (TPX.A.TO) ended down by 5.1%. Goeasy (GSY.TO) drifted down 3.6%. Constellation Software (CSU.TO), Dayforce (DAY.TO), BRP Inc (DOO.TO), Precision Drilling Corporation (PD.TO) and West Fraser Timber (WFG.TO) lost 2.5 to 3%.

Tilray Inc (TLRY.TO), Bausch Health Companies (BHC.TO), Copperleaf Technologies (CPLF.TO), Lightspeed Commerce (LSPD.TO), Docebo Inc (DCBO.TO), Franco-Nevada Corporation (FNV.TO), Toromont Industries (TIH.TO), Rogers Communications (RCI.B.TO), Manulife Financial (MFC.TO), Laurentian Bank (LB.TO) and Boyd Group Services (BYD.TO) were among the other major losers.

Corus Entertainment Inc. (CJR-B.TO) plunged more than 25%. The company reported a fiscal second-quarter adjusted net loss of more than $5.9 million, or $0.03 per share, significantly lower than a loss of near $13.9 million, or $0.07 per share, in the year-ago quarter.