TSX Ends On Weak Note

(RTTNews) - The Canadian stock market, which climbed to record highs last week, ended on a weak note on Monday, as investors chose to take profits at several counters.

Worries about steep spikes in coronavirus cases and tighter lockdown restrictions in several countries across the world contributed as well to market's decline.

Weakness in the U.S. market amid the political turmoil too weighed on sentiment.

Materials, industrial and information technology stocks were among the prominent loses. Energy stocks too were mostly lower. Healthcare stocks turned in a fine performance.

The benchmark S&P/TSX Composite Index ended the session with a loss of 107.62 points or 0.6% at 17,934.45.

First Quantum Minerals (FM.TO) ended more than 6% down. Methanex Corporation (MX.TO), Ritchie Bros Auctioneers (RBA.TO), Agnico Eagle Mines (AEM.TO), CargoJet (CJT.TO), Canadian Pacific Railway (CP.TO) and Kinaxis Inc. (KXS.TO) shed 2 to 5.5%.

Canadian National Railway (CNR.TO), Barrick Gold Corporation (ABX.TO), Teck Resources (TECK.B.TO), Eldorado Gold (ELD.TO), Hudbay Minerals (HBM.TO) and B2Gold Corp (BTO.TO) also declined sharply.

Cannabis stocks Cronos Group (CRON.TO), Aphria Inc. (APHA.TO) and Aurora Cannabis (ACB.TO) lost 9%, 6.25% and 5.1%, respectively. Canopy Growth Corp (WEED.TO) ended lower by about 4.5%.

Asian stocks turned in a mixed performance on Monday, with investors largely making cautious moves amid worries over the continued rise in coronavirus cases in several countries across the world. The Indian market, however, gained in strength, led by gains in technology stocks after TCS reported upbeat results for the third quarter of financial year 2020-21.

European markets ended weak, weighed down by reports showing spikes in coronavirus cases across the globe. The political turmoil in the U.S. hurt as well.

U.S. stocks plunged sharply minutes after the opening bell. Despite recovering a substantial part of lost ground, the major averages ended the day's session with notable losses.

In commodities, West Texas Intermediate Crude oil ended little changed. Gold futures settled modestly higher.