TSX Ends Moderately Lower Ahead Of BoC Interest Rate Decision
2024-12-01
2487
(fxcue news) - The Canadian market closed weak on Tuesday, weighed down by losses in healthcare and technology sectors. Stocks from energy and real estate sectors too found the going tough.
The mood was cautious with investors looking ahead to the Bank of Canada's interest rate decision and U.S. consumer price inflation data, due on Wednesday.
The Canadian central bank is widely expected to cut interest rate by 50 basis points.
The benchmark S&P/TSX Composite Index, which remained in negative territory right through the session, closed down 121.09 points or 0.47% at 25,504.33.
Healthcare stocks Tilray Inc (TLRY.TO) and Bausch Health Companies (BHC.TO) closed down 2.7% and 1.5%, respectively.
In the technology sector, Bitfarms (BITF.TO) and BlackBerry (BB.TO) lost 5.9% and 4.3%, respectively. Enghouse Systems (ENGH.TO) ended down 3.4%, Celestica Inc (CLS.TO) dropped 2.7% and Coveo Solutions (CVO.TO) fell 2.2%. Lightspeed Commerce (LSPD.TO), Constellation Software (CSU.TO) and Shopify Inc (SHOP.TO) also closed notably lower.
Energy stocks Freehold Royalties (FRU.TO), Vermilion Energy (VET.TO), Topaz Energy (TPZ.TO), Prairiesky Royalty (PSK.TO), International Petroleum Corp (IPCO.TO) and Baytex Energy (BTE.TO) declined sharply.
SSR Mining (SSRM.TO) gained nearly 6%. Bausch + Lomb Corporation (BLCO.TO), TerraVest Industries (TVK.TO), Docebo Inc (DCBO.TO), Sprott Inc (SII.TO), Tecsys Inc (TCS.TO) and Dollarama Inc (DOL.TO) gained 1.5 to 3%.
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