TSX Ends Weak After Cautious Session

(RTTNews) - The Canadian stock market ended weak on Friday, dragged down by losses in healthcare and consumer discretionary section.

The mood was cautious right through the session due to continued spikes in coronavirus cases in the U.S. and several other countries across the world, and tighter restrictions on business in several places.

The impasse over a U.S. financial stimulus, and growing possibility of a no-deal Brexit also weighed on sentiment.

The benchmark S&P/TSX Composite Index tumbled to a low of 17,70.92 about an hour past noon, but pared some losses subsequently to finally settle at 17,548.92, down 44.42 points or 0.25% from previous close. The index gained 0.16% in the week.

Among the stocks in the Capped Healthcare Index, Canopy Growth Corporation (WEED.TO), Knight Therapeutics (GUD.TO), Trillium Therapeutics (TRIL.TO) and Aphria Inc (APHA.TO) ended lower by 2.3 to 2.8%. Aurinia Pharmaceuticals (AUP.TO), Cronos Group (CRON.TO) and Bausch Health Companies (BHC.TO) also declined sharply.

In the consumer discretionary section, Gildan Activewear (GIL.TO), Martinrea International (MRE.TO) and Spin Master (TOY.TO) shed 3.4%, 3% and 2.7%, respectively.

Vermilion Energy (VET.TO), Air Canada (AC.TO), Manulife Financial Corporation (MFC.TO), Constellation Software (CSU.TO) and Colliers International (CIGI.TO) were among the prominent losers from other sectors.

Whitecap Resources (WCP.TO), Crescent Point Energy (CPG.TO), MEG Energy (MEG.TO), Transcontinental Inc. (TCL.B.TO), Cameco Corporation (CCO.TO), Maxar Technologies (MAXR.TO), Power Corporation of Canada (POW.TO), Cogeco Inc. (CGO.TO), Cogeco Communications (CCA.TO), Lightspeed Pos (LSPD.TO), WSP Global (WSP.TO), Cargojet (CJT.TO) and Norbord (OSB.TO) ended with strong gains.

On the economic front, data from Statistics Canada showed Canadian industries operated at 76.5% of their production capacity in the third quarter of 2020, up from an upwardly revised 70.7% in the previous period but below market expectations of 77.5%.

Another report from Statistics Canada showed the ratio of Canadian household debt-to-income narrowed to 170.9% in the third quarter from a revised 172.1% in the second quarter.