TSX Ends Weak For 2nd Straight Day

(RTTNews) – Canadian stocks turned in a weak performance on Monday as rising concerns about tariffs, and fading prospects of an interest rate cut by the Federal Reserve this month rendered the mood bearish.

The benchmark S&P/TSX Composite Index ended down 231.41 points or 0.93% at 24,536.32, closing lower for a second straight day. The index shed 1.22% on Friday.

Healthcare, energy, materials, utilities and technology stocks closed notably lower. Consumer staples and real estate stocks too had a weak outing.

Healthcare stocks Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) lost 6.4% and 2.3%, respectively.

In the energy sector, MEG Energy Corp (MEG.TO) tumbled 5.6%. Canadian Natural Resources (CNQ.TO), PrairieSky Royalty (PSK.TO), Whitecap Resources (WCP.TO), International Petroleum Corp (IPCO.TO) and Kelt Exploration (KEL.TO) closed down 2 to 4%.

Materials stocks Orla Mining (OLA.TO), Novagold (NG.TO), Aya Gold & Silver (AYA.TO), Ssr Mining (SSRM.TO), First Majestic Silver (AG.TO), Silvercrest Metals (SIL.TO), Equinox (EQX.TO) and Eldorado Gold (ELD.TO) lost 4 to 7%.

Nutrien (NTR.TO) climbed about 5.5% following a rating upgrade by Piper Sandler. Transcontinental (TCL.A.TO) gained nearly 1.5%.

Technology stocks Celestica Inc (CLS.TO), Coveo Solutions (CVO.TO), BlackBerry (BB.TO), Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO) and Shopify Inc (SHOP.TO) closed lower by 2 to 3.4%.

Parkland Corporation (PKI.TO) gained nearly 4%. TWC Enterprises (TWC.TO), Canadian Tire Corporation (CTC.A.TO), Magna International (MG.TO), Pollard Banknote (PBL.TO), Boyd Group Services (BYD.TO), Rogers Communications (RCI.B.TO) and Linamar Corporation (LNR.TO) climbed 1 to 2.5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.