TSX Ends Marginally Down

(RTTNews) - The Canadian stock market ended slightly weak on Thursday, weighed down by losses in healthcare and information technology sectors.

Save for a very brief while at the start, the market was down in negative territory. Despite upbeat economic data from the U.S. and Europe, the mood was quite cautious due to worries about the continued surge in coronavirus cases in Asian countries.

The benchmark S&P/TSX Composite Index, which plunged to a low of 19,181.87 around mid morning, ended with a loss of 19.76 points or 0.1% at 19,290.98.

The Capped Healthcare Index slid more than 5%. Trillium Therapeutics (TRIL.TO) and Organigram Holdings (OGI.TO) shed 7.7% and 7.2%, respectively. Aphria Inc (APHA.TO), Canopy Growth Corporation (WEED.TO), Aurora Cannabis (ACB.TO) and Cronos Group (CRON.TO) lost 4.6 to 5.6%.

Information technology stock Hut 8 Mining Corp (HUT.TO) shed 7.3%. Lightspeed Pos (LSPD.TO) declined 5.1%, Quarterhill (QTRH.TO) ended 4.4% down and Shopify Inc (SHOP.TO) closed lower by about 3.7%. BlackBerry (BB.TO) and Descartes Systems (DSG.TO) also declined sharply.

Among materials shares, Endeavour Silver Corp (EDR.TO) soared 10%, Ssr Mining (SSRM.TO) surged up 8.1%, New Gold (NGD.TO), First Majestic Silver Corp (FR.TO), Hudbay Minerals (HBM.TO), Barrick Gold Corp (ABX.TO), MAG Silver Corp (MAG.TO) and Yamana Gold (YRI.TO) closed lower by 4 to 6%.

Consumer discretionary stock Spin Master Corp. gave up a substantial portion of its early gains, but still ended 4.75% up. The company reported a first-quarter profit of US$3.2 million as digital games contributed to a nearly 40% increase in overall revenue compared with last year.

Bombardier Inc. (BBD.A.TO) announced that it is on track to meet its target for the delivery of 110 to 120 aircraft this year as it reported its latest financial results. The company said it earned net income of nearly US$5.1 billion or $2.03 per diluted share in its first quarter, compared with a net loss of US$200 million or 11 cents per share in the same quarter last year. The stock gained nearly 1%.

Magna International Inc (MG.TO) shares gained about 1.6% after the company reported a 136% increase in quarterly net profit. The auto parts maker has also raised its full-year revenue outlook, citing strong demand for vehicles.