TSX Ends Weak

(RTTNews) - The Canadian stock market ended weak on Thursday after languishing in negative territory right through the day's session as investors largely stayed reluctant to make significant moves.

Quarterly earnings updates provided some direction to the market.

The benchmark S&P/TSX Composite Index ended down by 33.41 points or 0.16% at 20,520.60, more than 100 points off the day's low of 20,417.65.

Materials and energy stocks closed weak despite coming off the day's lows. Healthcare stocks were also weak, while information technology stocks moved higher.

Endeavour Silver Corp (EDR.TO), Fortuna Silver Mines (FVI.TO) and Silvercorp Metals (SVM.TO) ended lower by 4.2 to 5.4 percent.

Lithium Americas Corp (LAC.TO) and Stelco Holdings (STLC.TO) moved up 8% and 6.4%, respectively.

Among the stocks in the energy space, Enerplus Corp (ERF.TO), Tourmaline Oil Corp (TOU.TO), Whitecap Resources (WCP.TO), Vermilion Energy (VET.TO), Arc Resources (ARX.TO) and Suncor Energy (SU.TO) shed 1 to 1.7%.

Healthcare stocks Cronos Group Inc (CRON.TO) and Aurinia Pharmaceuticals (AUP.TO) declined 3.7% and 3.5%, respectively. Trillium Therapeutics (TRIL.TO) shed 2.7% and Canopy Growth Corp (WEED.TO) ended down by 1.7%.

Information technology stock Absolute Software Corp (ABST.TO) climbed nearly 6%. Nuvei Corp (NVEI.TO), Descartes Systems Group (DSG.TO), Shopify Inc (SHOP.TO), Open Text Corp (OTEX.TO) and Tecys Inc (TCS.TO) gained 1 to 2%.

Cineplex Inc. (CGX.TO) reported second-quarter net loss of $103.7 million, compared to net loss of $98.9 million in the year-ago quarter. The stock gained more than 6.5%.

Canadian Tire Corporation (CTC.TO) reported earnings per share of $3.72 for the second-quarter, more than 30% up from the expected level. The stock ended little changed.

Docebo Inc (DCBO.TO) reported second-quarter net loss of $7.2 million, or $0.22 per share, compared to net loss of $3.5 million, or $0.12 per share for the comparative period in the prior year. Despite wider loss, the stock gained 4.3%.

In the U.S. market, the Dow and S&P 500 both recorded new closing highs. The Nasdaq also ended on a firm note.

European stocks closed broadly higher. Among the major markets, Germany and France closed higher, while the U.K. ended weak.

Asian markets turned in a mixed performance on Thursday.