TSX Ends Slightly Lower

(RTTNews) - After posting gains in the previous three sessions, the Canadian market ended slightly weak on Friday.

Energy and communications shares posted sharp losses, while consumer staples shares had a good session. A few stocks from industrials, utilities and financials sections posted strong gains.

The benchmark S&P/TSX Composite Index ended with a loss of 15.57 points or 0.08% at 20,262.07 after scaling a low of 20,234.22 and a high of 20,336.62 intraday. The index gained about 2.7% in the week.

In economic news, data from Statistics Canada showed manufacturing sales in Canada advanced 1.2% month-over-month in May 2023, compared to preliminary estimate of a 0.8% gain.

Molson Coors Canada (TPX.A.TO), Stantec Inc (STN.TO), CCL Industries (CCL.A.TO), Metro Inc (MRU.TO), Thomson Reuters (TRI.TO), Dollarama Inc (DOL.TO), WSP Global (WSP.TO) and Loblaw Companies (L.TO) gained 2 to 3%.

Restaurant Brands International (QSR.TO), George Westron (WN.TO), FirstService Corporation (FSV.TO), CGI Inc (GIB.A.TO), Waste Connections (WCN.TO) and Canadian Tire Corporation (CTC.TO) also closed notably higher.

Telus International (TIXT.TO) plunged more than 30% after the company slashed its revenue and earnings targets for the current fiscal year.

Vermilion Energy (VET.TO), Bombardier Inc (BBD.B.TO), Telus Corporation (T.TO) and Precision Drilling Corporation (PD.TO) lost 3.7 to 5%.