TSX Ends Modestly Lower

(RTTNews) - The Canadian stock market ended modestly lower on Monday as investors largely refrained from making significant moves, looking ahead to key earnings announcements from U.S. bank majors, and release of crucial economic data.

Worries about a surge in coronavirus cases in several countries and likelihood of fresh lockdown restrictions in many places rendered the mood cautious.

Healthcare and materials shares suffered sharp losses and contributed to market's weak close. Financial, consumer discretionary and information technology stoks found modest support, while industrial, energy and telecom shares turned in a mixed performance.

The benchmark S&P/TSX Composite Index, which spent just a few minutes in positive territory in the day's session, ended with a loss of 26.75 points or 0.14% at 19,201.28.

The Capped Healthcare Index shed 5.61%. Aphria Inc. (APHA.TO) plunged more than 14% after reporting third-quarter adjusted loss per share of C$0.15 compared to a loss of C$0.04, prior year. For the third quarter, net loss was C$361.0 million, or a loss of C$1.14 per share, compared to net income of C$5.7 million, or earnings C$0.02 per share, a year ago.

Aurora Cannabis (ACB.TO) shed 9.4%, Organigram Holdings (OGI.TO) tumbed 8.3% and Cronos Group (CRON.TO) declined 7.65%, while Trillium Therapeutics (TRIL.TO), Canopy Growth Corporation (WEED.TO) and Bausch Health Companies (BHC.TO) lost 5.1%, 4.3% and 2.5%, respectively.

Materials shares First Quantum Minerals (FM.TO) and Hudbay Minerals (HBM.TO) lost 6.9% and 6.4%, respectively. Lundin Mining Corp (LUN.TO), Ero Copper (ERO.TO), Silvercorp Metals (SIL.TO), MAG Silver Corp (MAG.TO), Eldorado Gold (ELD.TO), Pan American Silver Corp (PAAS.TO), Torex Gold Resources (TXG.TO), Wheaton Precious Metals (WPM.TO), Iamgold (IMG.TO) and Kirkland Lake Gold (KL.TO) lost 2 to 5%.

Financial shares Manulife Financial (MFC.TO), Brookfield Asset Management (BAM.A.TO), Sun Life Financial (SLF.TO), National Bank of Canada (NA.TO) and Toronto-Dominion Bank (TD.TO) gained 0.8 to 1.7%.

Consumer discretionary stocks Canadian Tire Corporation (CTC.A.TO), Spin Master (TOY.TO), Brp Inc (DOO.TO), Aritzia Inc (ATZ.TO) and Canada Goose Holdings (GOOS.TO) gained 1 to 2%.

In the technology space, Hut 8 Mining (HUT.TO) gained 3.7%, CGI Group (GIB.A.TO) moved up 2.8%, Constellation Software (CSU.TO) climbed 1.85% and Descartes Systems (DSG.TO) gained 1.05%.