Energy, Healthcare Shares Dragging Down Canadian Market

(RTTNews) - The Canadian market, which opened on a weak note Wednesday morning, continues to languish in negative territory in afternoon trade due to losses in energy, consumer discretionary and healthcare sections.

Weak European stocks, a rather subdued trend on Wall Street, and weak crude oil prices weigh on the market.

The benchmark S&P/TSX Composite Index is down 64.89 points or 0.32% at 20,118.54

Energy shares Tourmaline Oil Corp (TOU.TO) and Vermilion Energy (VET.TO) are down 4% and 3.8%, respectively. Crescent Point Energy (CPG.TO), Arc Resources (ARX.TO), Suncor Energy (SU.TO) and Imperial Oil (IMO.TO) are lower by 2 to 2.7%.

In the healthcare section, Tilray Inc (TLRY.TO), Well Health Technologies (WELL.TO) and Bausch Health Companies (BHC.TO) are down 2.3%, 2% and 1.6%, respectively.

Among consumer discretionary shares, Gildan Activewear (GIL.TO) is declining 5.6%, Sleep Country Canada Holdings (ZZZ.TO) is down 2.8%, Brp Inc (DOO.TO) is lower by 2.3%, Restaurant Brands International (QSR.TO) is down 2.2% and Magna International (MG.TO) is drifting down 2%.

Information technology stocks Shopify Inc (SHOP.TO) and Constellation Software (CSU.TO) are gaining 2.3% and 1.75%, respectively. Enghouse Systems (ENGH.TO) is up by about 0.7%.