TSX Ends Flat After Lackluster Session

(RTTNews) - After opening with a negative gap and losing further ground Friday morning, the Canadian stock market gradually regained lost ground and eventually ended flat.

The mood was cautious with investors reacting to jobs data and following news about virus spread and vaccination drive.

The benchmark S&P/TSX Composite Index, which declined to 19,157.26, ended down by 0.84 points at 19,228.03.

Energy stocks drifted lower after crude oil prices dropped amid concerns about outlook for energy demand. Stocks from all the other sectors turned in a mixed performance.

Cenovus Energy (CVE.TO), Bombardier Inc (BBD.B.TO), Arc Resources (ARX.TO), Yamana Gold (YRI.TO) and Suncor Energy (SU.TO) lost 1 to 2.7%.

MTY Food Group Inc (MTY.TO) reported net income of $13.4 million or $0.54 per share for the first quarter of this year, down from $19.0 million, or $0.76 per share in the year-ago quarter. MTY shares were down by about 1%.

Corus Entertainment Inc. (CJR.B.TO) shares gained 7%. The company reported second quarter adjusted basic earnings per share of C$0.18 compared to C$0.12 a year ago. Second quarter net income attributable to shareholders increased to C$35.30 million from C$18.52 million, prior year. Earnings per share was C$0.17 compared to C$0.09.

On the economic front, data released by Statistics Canada a little while ago showed employment in Canada increased by 303,100 in March, with full time employment surging up by 175,400. Meanwhile, part time employment dropped to 127,800 in the month, after coming in at 171,000 a month earlier.

The unemployment rate dropped to 7.5%, after coming in at 8.2% a month earlier. Economists had expected the unemployment rate to be 8% in March.