Canadian Market Settles Lower; TSX Sheds 0.6%
2024-11-09
4058
(fxcue news) - The Canadian market ended notably lower on Friday, weighed down by losses in energy, industrials and materials sectors, and on uncertainty about Federal Reserve's interest rate trajectory.
The benchmark S&P/TSX Composite Index, which opened at 25,004.49 and dropped to a low of 24,814.91 around mid afternoon, ended the day's session at 24,890.68 with a loss of 158.99 points or 0.63%. The index posted a modest gain for the week.
Capital Power Corporation (CPX.TO), Dayforce (DAY.TO), Canadian Natural Resources (CNQ.TO), Alimentation Couche-Tard (ATD.TO), Tourmaline Oil Corp (TOU.TO), Canadian Pacific Kansas City (CP.TO) and CCL Industries (CCL.B.TO) lost 2 to 3%.
Hut 8 Corp (HUT.TO) zoomed more than 9%. Aya Gold & Silver (AYA.TO) climbed 7.8%. Celestica Inc (CLS.TO), Russel Metals (RUS.TO), GFL Environmental (GFL.TO), Keyera Corp (KEY.TO), Cameco Corporation (CCO.TO), BRP Inc (DOO.TO) and Boyd Group Services (BYD.TO) also posted strong gains.
Data from Statistics Canada showed manufacturing sales in Canada decreased 0.5% month-over-month in September, less than initial estimates of a 0.8% drop and following a 1.3% fall in August.
Wholesale sales in Canada declined 0.8% month-over-month in September, less than preliminary estimates of a 0.9% rise, and reversing the 0.6% decline in August.
Another report from Statistics Canada showed car registrations in Canada decreased to 168,620 Units in August from 169,327 Units in July.
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