Canada Stocks: TSX ends lower for second day as commodity prices fall

Colliers International

09/02/2023 21:52

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      TSX ends down 81.79 points, or 0.4%, at 20,597.75
    

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      Materials sector falls 1.2%; energy ends 0.8% lower
    

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      Bombardier falls after quarterly results
    

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      Canopy Growth among top TSX losers
    

  
 (Adds strategist quotes and details throughout, updates prices)
    By Fergal Smith
       Feb 9 (Reuters) - Canada's main stock index fell on
Thursday, pressured by declines in resource shares, as investors
took their cue from lower commodity prices and losses on Wall
Street.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended down 81.79 points, or 0.4%, at 20,597.75, adding
to its decline on Wednesday.
    "It's one of those days where I think we're getting dragged
a bit by world markets and falling commodity prices, said Colin
Cieszynski, chief market strategist at SIA Wealth Management.
"It held up reasonably well all things considered." 
    U.S. stock indexes also fell, with the declines deeper than
for the Toronto market, after an auction of 30-year bonds went
poorly and overshadowed strong earnings from corporate giants
like Disney and PepsiCo.
    The Toronto market's energy sector fell 0.8% as the price of
oil  CLc1  settled 0.5% lower at $78.06 a barrel, while the
materials group, which includes precious and base metals miners
and fertilizer companies, lost 1.2%.
    Gold fell 0.7% to about $1,862 per ounce.
    Among the biggest decliners was Bombardier Inc  BBDb.TO .
Its shares fell 11.8% even as the business jet maker forecast
higher business jet deliveries for 2023.    
    Shares of Canopy Growth Corp  WEED.TO  dropped 16.6% as the
cannabis producer posted a bigger third-quarter core loss and
said it would reduce its workforce by about 60%.
    Colliers International Group Inc  CIGI.TO  shares were a
bright spot, jumping 6.7% as the real estate services firm
projected 2023 adjusted profit above analysts' forecast.
 (Reporting by Fergal Smith: Additional reporting by Shristi
Achar A in Bengaluru; Editing by Krishna Chandra Eluri and Diane
Craft)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))