Canadian Shares Notably Lower

(RTTNews) - The Canadian market is down in negative territory Friday afternoon with stocks from several sectors reeling under sustained selling pressure amid uncertainty about U.S. interest rate cuts after dovish comments from Fed Chair Jerome Powell.

The benchmark S&P/TSX Composite Index was down 204.79 points or 0.82% at 24,844.88 a little while ago.

Alimentation Couche-Tard Inc (ATD.TO) shares closed down 3.1%. Cargojet (CJT.TO) ended down 2.6%. Altus Group (AIF.TO), Enbridge Inc (ENB.TO), Dayforce (DAY.TO), Canadian Pacific Kansas City (CP.TO), ONEX Corporation (ONEX.TO), Colliers International (CIGI.TO) and CCL Industries (CCL.B.TO) lost 1.7 to 2.5%.

Thomson Reuters (TRI.TO), TFI International (TFII.TO), Sun Life Financial (SLF.TO), Precision Drilling Corporation (PD.TO), Constellation Software (CSU.TO), EQB Inc (EQB.TO), Shopify Inc (SHOP.TO), goeasy (GSY.TO), Franco-Nevada Corporation (FNV.TO) and Royal Bank of Canada (RY.TO) are down 0.8 to 1.7%.

Aya Gold & Silver (AYA.TO) zoomed nearly 10%. Hut 8 Corp (HUT.TO) rallied more than 6%. Enerflex (EFX.TO) climbed 4.7%.

Laurentian Bank of Canada (LB.TO), Cameco Corporation (CCO.TO), K-Bro Linen (KBL.TO), Boyd Group Services (BYD.TO), Rogers Communications (RCI.A.TO), ATCO (ACO.Y.TO) and Russel Metals (RUS.TO) also closed on firm note.

Atkins Realis (ATRL.TO) announced that its joint venture Candu Energy has received a contract from EnergoNuclear to build two new CANDU reactors at the Cernavoda Nuclear Generating Station in Romania. The stock is down nearly 1%.

Birchcliff Energy Ltd. (BIR.TO) is down 3.5%. The company reported a net loss of $1.51 million for the quarter ended September 30, 2024, as against a net income of $2.21 million in the year-ago quarter.

Data from Statistics Canada showed manufacturing sales in Canada decreased 0.5% month-over-month in September, less than initial estimates of a 0.8% drop and following a 1.3% fall in August.

Wholesale sales in Canada declined 0.8% month-over-month in September, less than preliminary estimates of a 0.9% rise, and reversing the 0.6% decline in August.

Another report from Statistics Canada showed car registrations in Canada decreased to 168,620 Units in August from 169,327 Units in July.