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Markets

Material stocks drag TSX lower

  • The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures fell 0.3% to $1,799 an ounce.
  • Toronto Stock Exchange's S&P/TSX composite index was down 77.04 points, or 0.42%, at 18,253.05.
24 Feb 2021

Canada's main stock index fell on Wednesday as weakness in materials stocks overshadowed upbeat earnings from National Bank of Canada and Royal Bank of Canada.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures fell 0.3% to $1,799 an ounce.

Miners Dundee Precious Metals Inc and Centerra Gold fell 3.9% and 3.8%, respectively, and were the top drag on the TSX.

At 09:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 77.04 points, or 0.42%, at 18,253.05.

The financials sector gained 0.1% as Royal Bank of Canada and National Bank of Canada topped analysts' estimates for first-quarter profit.

The energy sector dropped 0.7%, even though US crude prices were up 1% a barrel, while Brent crude added 1.1%.

On the TSX, 62 issues were higher, while 150 issues declined for a 2.42-to-1 ratio to the downside, with 24.02 million shares traded.

The largest percentage gainers on the TSX were printing company Transcontinental Inc, which jumped 2.3%, and National Bank of Canada, which rose 2.3%.

The most heavily traded shares by volume were Manulife Financial Corp, Suncor Energy Inc, and Great-West Lifeco Inc.

The TSX posted 12 new 52-week highs and no new lows.

Across all Canadian issues there were 44 new 52-week highs and six new lows, with total volume of 43.98 million shares. Material stocks drag TSX lower

Canada's main stock index fell on Wednesday as weakness in materials stocks overshadowed upbeat earnings from National Bank of Canada and Royal Bank of Canada.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures fell 0.3% to $1,799 an ounce.

Miners Dundee Precious Metals Inc and Centerra Gold fell 3.9% and 3.8%, respectively, and were the top drag on the TSX.

At 09:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 77.04 points, or 0.42%, at 18,253.05.

The financials sector gained 0.1% as Royal Bank of Canada and National Bank of Canada topped analysts' estimates for first-quarter profit.

The energy sector dropped 0.7%, even though US crude prices were up 1% a barrel, while Brent crude added 1.1%.

On the TSX, 62 issues were higher, while 150 issues declined for a 2.42-to-1 ratio to the downside, with 24.02 million shares traded.

The largest percentage gainers on the TSX were printing company Transcontinental Inc, which jumped 2.3%, and National Bank of Canada, which rose 2.3%.

The most heavily traded shares by volume were Manulife Financial Corp, Suncor Energy Inc, and Great-West Lifeco Inc.

The TSX posted 12 new 52-week highs and no new lows.

Across all Canadian issues there were 44 new 52-week highs and six new lows, with total volume of 43.98 million shares.