TSX Ends Slightly Lower Ahead Of Key Economic Events

(RTTNews) - The Canadian market ended slightly lower on Monday after a cautious session as investors seemed reluctant to make significant moves ahead of Canadian inflation data, due on Tuesday, and the Federal Reserve's policy decision on Wednesday.

The benchmark S&P/TSX Composite Index ended down 11.97 points or 0.05% at 21,837.18, after moving in a very narrow range between 21,810.40 and 21,874.61.

Tilray Inc (TLRY.TO) soared nearly 11%. Bausch Health Companies (BHC.TO) and Chartwell Retirement Residences (CSH.UN.TO) gained 1.93% and 1.81%, respectively.

Energy stocks gained as oil prices rose sharply on supply concerns. Africa Oil Corp (AOI.TO) gained 3.35% after the company said that it has made a cash offer to acquire from minority shareholders in Impact Oil and Gas Ltd. up to 8.0% of the issued shares in Impact. The Offer is made for US$0.728 per Impact share, for a consideration of up to about US$64 million, which implies a valuation of US$805 million for 100% of the company.

Vermilion Energy (VET.TO) rallied more than 5%. Headwater Exploration (HWX.TO), Enerplus Corp (ERF.TO), Cenovus Energy (CVE.TO), Arc Resources (ARX.TO), Baytex Energy (BTE.TO), Pason Systems (PSI.TO), International Petroleum Corp (IPCO.TO), Canadian Natural Resources (CNQ.TO), Secure Energy (SES.TO), Precision Drilling Corp (PD.TO) and Crescent Point Energy gained 1 to 2.3%.

Real estate stocks Storagevault Canada Inc (SVI.TO), H&R Real Estate Investment Trust (HR.UN.TO), Primaris (PMZ.UN.TO) and Killam Apartment REIT (KMP.UN.TO) climbed 2 to 2.6%.

Industrials shares Bombardier Inc (BBD.B.TO) and Snc-Lavalin Group (ATRL.TO) gained 3% and 2%, respectively. Richellieu Hardware (RCH.TO), Canadian National Railway (CNR.TO) and Mullen Group (MTL.TO) advanced 1.5% and 1%, respectively.

Consumer staples shares Alimentation Couche-Tard (ATD.TO) and Jamieson Wellness (JWEL.TO) ended lower by 3.4% and 1.7%, respectively.

Among utilities shares, Brookfield Renewable Partners (BEP.UN.TO), Innergex Renewable Energy (INE.TO), Northland Power (NPI.TO), Algonquin Power & Utilities Corp (AQN.TO) and Boralex Inc (BLX.TO) lost 2.5 to 3.1%.

On the economic front, data from Statistics Canada showed, industrial producer prices in Canada rose by 0.7% over a month in February, after four consecutive months of declines. On yearly basis, producer prices decreased by 1.7% in February after a 2.9% drop in the prior month.

Raw materials prices increased by 2.1% month-over-month in February, from 1.2% in January. Year-on-year, raw materials prices fell by 4.7% in February.