TSX Ends Marginally Down After Cautious Session

2024-09-29 2586
(fxcue news) - The Canadian market ended marginally down on Tuesday after languishing in negative territory right through the day's trading session, as investors awaited fresh economic data, and quarterly earnings updates. Weak crude oil and gold prices weighed on energy and materials shares, contributing to market's weakness. The benchmark S&P/TSX Composite Index ended down 30.20 points or 0.13% at 24,072.51. The index touched a low of 23,969.27 and a high of 24,083.13 in the session. The Energy Capped Index shed 2.33%. Mattr Corp (MATR.TO) plunged more than 10.5%. Advantage Oil & Gas (AAV.TO) ended down 6.1%. Birchcliff Energy (BIR.TO), Baytex Energy (BTE.TO), Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO), Precision Drilling Corp (PD.TO), Paramount Resources (POU.TO), Nuvista Energy (NVA.TO) and Tourmaline Oil Corp (TOU.TO), Arc Resources (ARX.TO) and Vermilion Energy (VET.TO) lost 3 to 4.5%. Materials shares Teck Resources (TECK.B.TO), Hudbay Minerals (HBM.TO), Methanex Corp (MX.TO), Ivanhoe Mines (IVN.TO), First Quantum Minerals (FM.TO), Capstone Mining (CS.TO) and Lundin Mining (LUN.TO) ended lower by 3 to 5%. Technology stocks Celestica Inc (CLS.TO) and Shopify Inc (SHOP.TO) gained 2.7% and 2.3%, respectively. Descartes Systems Group (DSG.TO), Sylogist (DSG.TO), Docebo Inc (DCBO.TO), CGI Group Inc (GIB.A.TO), Dye & Durham (DND.TO) and Lightspeed Commerce (LSPD.TO) moved up 1 to 2%. Data from Statistics Canada showed that Canada's trade deficit widened to C$ 1.10 billion in August 2024 from a revised C$ 0.29 billion gap in the previous month and exceeding market expectations of a C$ 0.5 billion deficit. This was the sixth consecutive monthly shortfall and the largest since May. Exports dropped by 1% in August, while imports inched up 0.3%.
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