Cannabis shares, dismal wholesale trade data drive TSX lower
- The healthcare sector shed 1.7%, as cannabis companies including Aphria Inc, Cronos Group, and Hexo Corp fell over 1% in early trade.
- The financials sector gained 0.7%, led by the largest percentage gainers on the index, CI Financial Corp and iA Financial Corporation Inc, which jumped 6.8% and 4.1% respectively.
Canada's main stock index inched lower on Friday, dragged down by stocks of cannabis companies and a dismal wholesale trade data, while further losses were capped by strength in financial stocks.
The healthcare sector shed 1.7%, as cannabis companies including Aphria Inc, Cronos Group, and Hexo Corp fell over 1% in early trade.
Statistics Canada data showed that the domestic wholesale trade fell by 1.3% in December from November.
The financials sector gained 0.7%, led by the largest percentage gainers on the index, CI Financial Corp and iA Financial Corporation Inc, which jumped 6.8% and 4.1% respectively.
At 09:58 a.m. ET (14:58 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 12.63 points, or 0.07%, at 18,380.36.
Adding to the downbeat mood, the energy and materials sectors, dropped 0.3% and 0.6% respectively.
Agnico Eagle Mines Ltd fell 6.4%, the most on the TSX, after the gold producer reported dismal fourth-quarter results. Renewable power producer Innergex Renewable Energy Inc was the second biggest decliner, down 4.7%.
On the TSX, 82 issues advanced, while 132 issues declined in a 1.61-to-1 ratio favoring losers, with 30.19 million shares traded.
The most heavily traded shares by volume were Supreme Cannabis Company Inc, SOPerior Fertilizer Corp , and Zenabis Global Inc.
The TSX posted seven new 52-week highs and no new low.
Across Canadian issues, there were 61 new 52-week highs and seven new lows, with total volume of 91.84 million shares.
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