TSX Ends Moderately Lower

(RTTNews) - The Canadian market ended on a weak note on Tuesday after languishing in negative territory right through the day's session as investors awaited some crucial economic data, including a reading of U.S. inflation, for clues about the outlook for interest rates.

The benchmark S&P/TSX Composite Index ended down by 108.33 points or 0.48% at 22,265.05, nearly 60 points off the day's low of 22,209.30.

Energy and materials shares moved higher on firm commodity prices. Industrials, real estate, utilities, consumer discretionary, consumer staples and financials shares were weak.

The Industrials Capped Index shed 2.12%. Brookfield Business Partners (BBU.UN.TO) dropped 5.4%. Richelieu Hardware (RCH.TO) drifted down 4.1%. Finning International (FTT.TO), Canadian Pacific Kansas City (CP.TO), CargoJet (CJT.TO), Canadian National Railway (CNR.TO) and Ats Corp (ATS.TO) lost 2 to 3.1%.

Real estate stocks Boardwalk Real Estate (BEI.UN.TO), Dream Industrial (DIR.UN.TO), CT Real Estate (CRT.UN.TO) and Killam Apartment (KMP.UN.TO) lost 2.3 to 3.1%.

In the utilities section, Brookfield Renewable Partners (BEP.UN.TO) ended 4.1% down. Brookfield Infra Partners (BIP.UN.TO), Emera Incorporated (EMA.TO), Fortis (FTS.TO) and Hydro One (H.TO) ended lower by 1.5 to 1.9%.

Consumer discretionary stocks Aritzia (ATZ.TO), Gildan Activewear (GIL.TO), Mty Food Group (MTY.TO) and Magna International (MG.TO) declined sharply.

Empire Company (EMP.A.TO) and George Weston (WN.TO) were among the major losers in the consumer staples section.

Bank of Nova Scotia (BNS.TO) ended down 0.84%. The bank reported lower quarterly earnings. The bank reported second-quarter net income of $2,092 million, or $1.57 per diluted share, compared to $2,146 million, or $1.68 per diluted share, in the second quarter of the previous year.

EQB Inc (EQB.TO), Brookfield Asset Management (BAM.TO), Manulife Financial (MFC.TO), Onex Corp (ONEX.TO) and Sun Life Financial (SLF.TO) ended sharply lower.

Seabridge (SEA.TO) climbed about 5.5%. Docebo Inc (DCBO.TO), Precision Drilling Corporation (PD.TO), Imperial Oil (IMO.TO), Teck Resources (TECK.B.TO), Cameco Corporation (CCO.TO), Shopify Inc (SHOP.TO), Constellation Software (CSU.TO) and Franco-Nevada Corporation (FNV.TO) gained 1 to 3%.

On the economic front, data from Statistical Canada showed industrial producer prices in Canada rose by 1.5% over a month in April, reaching a fresh 8-month high, and up from an upwardly revised 0.9% uptick in the prior month.

Producer Prices in Canada decreased by 1.4% yoy in April, rebounding from an upwardly revised 0.4% fall in March.

The Raw Materials Price Index in Canada was up 5.5% month-over-month in April, from a 4.3% increase in the previous month. On yearly basis, raw materials prices increased to 3.1% in April from 0.4% in March.