TSX Extends Decline To 5th Straight Session

(RTTNews) - The Canadian stock market ended lower on Friday, extending weakness to a fifth straight session, as traders stayed wary of building up positions due to continued uncertainty about a trade deal between the U.S. and China.

Volatile commodity prices weighed on energy and materials stocks at times. Cannabis shares had their moments in positive territory, but saw some very weak spells as well during the week.

The benchmark S&P/TSX Composite Index ended down 44.35 points, or 0.26%, at 16,954.84 on Friday, recording a fifth straight loss, after having registered an 11-session winning streak during the first fortnight of the month.

The index shed 0.43% in the week.

Cannabis shares suffered a setback and dragged down the Capped Healthcare Index down by nearly 5%. Hexo Corp (HEXO.TO) plunged nearly 16%, Aurora Cannabis (ACB.TO) declined more than 13%, Canopy Growth Corp (WEED.TO) shed 9.5%, Cronos Group Inc. (CRON.TO) declined 7.1% and Aphria Inc. (APHA.TO) lost 6%.

Bombardier Inc. (BBD.B.TO) declined 5.5%. Encana Corporation (ECA.TO), Husky Energy (HSE.TO), SNC-Lavalin (SNC.TO), Kirkland Lake Gold (KL.TO) and Linamar Corporation (LNR.TO) were among the other prominent losers in the session.

Among the gainers, First Quantum Minerals (FM.TO) advanced 2.1%. The Stars Group (TSGI.TO), FirstService Corporation (FSV.TO), Domtar Corporation (UFS.TO), Rogers Communications (RCI.A.TO), Cargojet (CJT.TO) and Colliers International Group (CIGI.TO) also closed on a firm note.

Data from the Statistics Canada showed that retail sales fell 0.1% on a seasonally adjusted monthly basis after a revised 0.1% rise in August. The rate matched economist estimates.

Core retail sales excluding motor vehicle and parts dealers rose 0.2% from August, when it fell a revised 0.1%. The reading was forecast to fall by 0.3%.

U.S. stocks ended higher despite turning in a lackluster performance. Traders seemed reluctant to make significant moves amid lingering uncertainty about a U.S.-China trade deal. The Dow gained 0.4%, the Nasdaq and the S&P 500 both edged up by 0.2%.

Stock markets across the Asia-Pacific region and Europe ended higher.

In commodities, West Texas Intermediate Crude oil futures for January ended down $0.81, or about 1.4%, at $57.77 a barrel.

Gold futures for December ended at $1,463.30 an ounce, unchanged from previous close, after having advanced to $1,473.40 an ounce earlier in the session.

Silver futures for December ended down $0.065, at $17.000 an ounce, while Copper futures for December ended up $0.0245, at $2.6480 per pound.