TSX Ends Weak Again

(RTTNews) - The Canadian stock market ended on a weak note on Thursday, weighed down by losses in consumer discretionary, industrials and financials shares.

Materials and energy stocks found some support as prices of oil and gold moved up. Shares from other sectors closed mixed.

The benchmark S&P/TSX Composite Index ended lower by 87.89 points or 0.44% at 20,070.25%. The index, which advanced to 20,243.53 in early trades, gaining more than 80 points in the process, later dropped to a low of 20,057.99.

Consumer discretionary stock Sleep Country Canada Holdings (ZZZ.TO) declined more than 7%. Brp Inc (DOO.TO), Canadian Tire Corp (CTC.A.TO), Gildan Activewear (GIL.TO) and Canada Goose Holdings (GOOS.TO) she 2.5 to 5%.

Among industrials shares, Aecon Group Inc. (ARE.TO) closed more than 4% down. Badger Infrastructure Solutions (BDGI.TO) shed 3.7%, while Air Canada (AC.TO), Lifeworks Inc (LWRK.TO), Russel Metals (RUS.TO), Snc-Lavalin (SNC.TO), Mullen Group (MTL.TO) and Richelieu Hardware (RCH.TO) lost 2.2 to 2.5%.

In the financial section, Laurentian Bank (LB.TO), Manulife Financial (MFC.TO), Bank of Montreal (BMO.TO), Toronto-Dominion Bank (TD.TO), Bank of Nova Scotia (BNS.TO), Sun Life Financial (SLF.TO) and Canadian Imperial Bank of Commerce (CM.TO) declined 1 to 1.7%.

Energy shares Arc Resources (ARX.TO) and Tourmaline Oil Corp (TOU.TO) both gained about 3.2%. Whitecap Resources (WCP.TO), MEG Energy (MEG.TO) and Crescent Point Energy (CPG.TO) also posted strong gains.

In the materials section, Lithium Americas Corp (LAC.TO) climbed more than 8%. Novagold Resources (NG.TO) gained 4.2%.

Capstone Mining Corp (CS.TO), Labrador Iron Ore (LIF.TO), Turquoise Hill Resources (TRQ.TO), Torex Gold Resources (TXG.TO), MAG Silver Corp (MAG.TO), Hudbay inerals (HBM.TO) and Dundee Precious Metals (DPM.TO) gained 3 to 4.2%.

Bombardier, Inc. (BBD_B.TO) gained more than 4.5%. The company announced that it has bagged a firm order for 20 Challenger 3500 business jets. This is Bombardier's largest business jet transaction of 2021, representing a value of $534 million U.S., based on current list pricing.

In commodities, West Texas Intermediate Crude oil futures for November ended higher by $0.20 or about 0.3% at $75.03 a barrel.

Gold futures for December ended higher by $34.10 or about 2% at $1,757.00 an ounce, while Silver futures for September ended up by $0.562 at $22.047 an ounce, and Copper futures for September settled at $4.0890 per pound, down $0.1100 from the previous close.