TSX Ends Flat Again

(RTTNews) - The Canadian market ended flat for a second straight day as investors remained reluctant to make significant moves on Thursday.

The U.S. market remained shut today for Thanksgiving Day holiday, and cues from Europe was not any significantly positive although most of the markets there managed to close higher.

The benchmark S&P/TSX Composite Index ended up 2.70 points or 0.01% at 20,116.66. The index, which advanced to 20,179.32 around mid morning, dropped to a low of 20,101.89 in the final hour.

Stocks turned in a mixed performance in lackluster trade. A few stocks from industrials and energy sectors posted strong gains. Consumer staples shares were weak.

Cargojet Inc. (CJT.TO), Precision Drilling Corporation (PD.TO), EQB Inc (EQB.TO), Cogeco Inc (CGO.TO), goeasy (GSY.TO), iA Financial Corporation (IAG.TO), Canadian National Railway (CNR.TO) and Imperial Oil (IMO.TO) gained 1 to 3%.

Silvercorp Metals Inc. (SVM.TO) announced that it has entered into an amendment to the previously announced acquisition deal with OreCorp Limited, to increase per share cash consideration. The stock gained about 0.3%.

Softchoice Corporation (SFTC.TO) ended 4% down. Empire Company (EMP.A.TO) ended lower by 3.5%, while Methanex Corporation (MX.TO), Bombardier Inc (BBD.A.TO), Docebo Inc (DCBO.TO) and Alimentation Couche-Tard (ATD.TO) declined 1.3 to 2%.

On the economic front, Statistics Canada said wholesale sales in Canada were likely down by 1.1% from a month earlier in October, following a 0.4% rise in September according to preliminary estimates.