TSX Snaps 3-day Winning Streak, Ends Modestly Lower

(RTTNews) - The Canadian stock market ended weak on Thursday, snapping a three-day winning streak, as investors looked for fresh direction and refrained from making significant moves.

Shares from utilities and real estate sections were among the major losers. Information technology and healthcare stocks were weak as well.

Energy, materials and consumer discretionary stocks turned in a mixed performance, while financial and industrial shares moved up.

The benchmark S&P/TSX Composite Index ended lower by 47.24 points or 0.3% at 15,527.87. The index touched a low of 15,502.41 and a high of 15,647.38 in the session. The index had added about 2.5% in the previous three sessions.

Hexo Corp (HEXO.TO) gained nearly 6.5% and Air Canada (AC.TO) climbed up 5.75%. Baytex Energy surged up 4.7%, while Kinross Gold (K.TO), Suncor Energy (SU.TO) and Bombardier Inc. (BBD.B.TO) gained 2 to 2.5%.

Imperial Oil (IMO.TO), B2Gold Corp (BTO.TO) and Barrick Gold Corporation (ABX.TO) were among the other notable gainers.

Canadian Tire Corporation (CTC.A.TO), Shopify Inc. (SHOP.TO), Alimentation Couche-Tard (ATD.B.TO), Enghouse Systems (ENGH.TO), Cogeo Inc. (CGO.TO) and George Weston (WN.TO) lost 2 to 4%.

Data released by Statistics Canada this morning showed Canada's trade deficit widened to C$ 3.25 billion in April 2020 from an upwardly revised C$ 1.53 billion in the previous month. That was and compared with market expectations of a CAD 2.36 billion shortfall.

Exports dropped by 29.7% from a month earlier to C$ 32.7 billion in April 2020, the lowest level in more than ten years. Meanwhile, imports were down 25.1% at C$ 35.9 billion in April 2020, the lowest level since February 2011.