TSX Ends Slightly Weak After Lackluster Session

(RTTNews) - The Canadian stock market ended modestly lower on Monday after languishing in negative territory right through the day's session.

Worries about growth due to rising coronavirus cases of the delta variant, disappointing Chinese economic data, and geopolitical concerns rendered the mood a bit bearish.

Investors also reacted to Canadian Prime Minister Justin Trudeau calling an early election. Trudeau said he needed a new mandate to ensure voters approved of his government's plan to recover from the pandemic.

The benchmark ended down by 34.65 points or 0.17% at 20,483.42. The index moved in a tight range between 20,417.91 and 20,492.45.

Energy stocks drifted lower due to weak crude oil prices. Healthcare and materials shares were the other notable losers. Shares from other sectors closed mixed.

The Capped Materials Index shed 2.28%. Vermilion Energy (VET.TO) declined 6.5% after the company said its production dropped by about 14% in the second quarter. The company reported net income of $367.4 million in the second quarter, compared to a loss in the same period last year.

Enerplus Corp (ERF.TO), Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO), Parex Resources (PXT.TO), MEG Energy (MEG.TO) and Imperial Oil (IMO.TO) lost 3 to 4.2%.

Among materials shares, Hudbay Minerals (HBM.TO), Lithium Americas Corp (LAC.TO), Silvercorp Metals (SVM.TO), Interfor Corp (IFP.TO), Turquoise Hill Resources (TRQ.TO), Lundin Mining Corp (LUN.TO) and Methanex Corp (MX.TO) lost 3 to 4.1%.

In the healthcare sector, Organigram Holdings (OGI.TO) plunged nearly 14%. Aurinia Pharmaceuticals (AUP.TO) declined 3.5%, Aurora Cannabis (ACB.TO) ended nearly 3% down, and Canopy Growth Corp (WEED.TO) shed about 2.3%.

Ritchie Bros. Auctioneers (RBA.TO), Spin Master Corp (TOY.TO), Thomson Reuters Inc (TRI.TO), George Weston (WN.TO) and Fairfax Financial Holdings (FFH.TO) gained 1 to 3%.

In economic news, data released by Statistics Canada showed manufacturing sales in Canada rose 2.1% from a month earlier to C$ 59.2 billion in June, following two consecutive monthly declines.

Wholesale sales in the country dropped by 0.8% to C$ 71.5 billion in June from a month earlier. Year-on-year, wholesale sales advanced 14.7% in June.

Another data from Statistics Canada said car registrations in Canada increased to 168,838 units in June from 151,912 units in May.