TSX Ends Moderately Lower After Lackluster Session

(RTTNews) - The Canadian stock market ended weak on Monday as investors stayed cautious amid a lack of positive triggers. Some uncertainty about a U.S.-China trade deal before this weekend and profit taking at a few counters after Friday's solid gains contributed as well to the decline.

Information technology, industrial, consumer discretionary and financial shares were among the losers. Materials and energy shares turned in a mixed performance, while healthcare shares had a good session.

The benchmark S&P/TSX Composite Index ended down 46.12 points, or 0.27%, at 16,950.85, after scaling a high of 17,003.38 and a low of 16,934.65 intraday.

Bombardier Inc. (BBD.B.TO) declined 2% on strong volumes. Cenovus Energy (CVE.TO) shed about 1.2%, while Crescent Point Energy (CPG.TO) and Suncor Energy (SU.TO) both ended lower by about 0.8%.

Among the other notable losers, Constellation Software (CSU.TO) shed 3.4%, while Power Corporation of Canada (POW.TO), FirstService Corporation (FSV.TO), Canadian Tire Corporation (CTC.A.TO) and Dollarama Inc. (DOL.TO) ended lower by 2 to 2.5%.

Agnico Eagle Mines (AEM.TO), Waste Connections (WCN.TO), Canadian National Railway (CNR.TO) and CGI Inc. (GIB.A.TO) declined 1 to 2%.

Canopy Growth Corporation (WEED.TO) soared 14%. The company announced that it has appointed David Klein as the new Chief Executive Officer, effective January 14, 2020. Klein, who succeeds Mark Zekulin, has previously served in a number of senior leadership capacities over the past 14 years at Constellation Brands.

Hexo Corp (HEXO.TO) gained 8.6%, Aurora Cannabis (ACB.TO) spurted 7.8% and Aphria Inc. (APHA.TO) gained 7.6%, while Cronos Group Inc. (CRON.TO) advanced 3.5%.

On the economic front, data released by Canada Mortgage and Housing Corporation said the seasonally adjusted annual rates of housing starts in Canada rose 0.3% from a month earlier 201,318 units in November 2019, missing market expectations of 205,000.

Meanwhile, the value of building permits in Canada fell 1.5% from a year earlier to C$ 8.3 billion in October 2019, following a downwardly revised 5.9% decline in the previous month.

U.S. stocks ended moderately lower after a choppy session as traders chose to take some profits after recent gains. Lingering uncertainty about U.S.-China trade talks also weighed on stocks.

The Dow and the Nasdaq, both slid by 0.4%, while the S&P 500 declined 0.3%.

Markets across Europe ended mostly lower, while Asian markets ended modestly higher.

In commodities, West Texas Intermediate Crude oil futures for January ended down $0.18, or about 0.3%, at $59.02 a barrel.

Gold futures for February ended down $0.20, or about 0.01%, at $1,464.90 an ounce.

Silver futures for March ended up $0.046 at $16.642 an ounce, while Copper futures for March settled at $2.7585 per pound, gaining $0.0335 for the session.