TSX Ends Flat After Lackluster Session

(RTTNews) - The Canadian stock market ended flat, with investors largely refraining from making significant moves as they looked ahead to the outcome of the U.S.-China trade talks.

Healthcare stocks were in demand. Financial stocks ended mostly flat, while information technology and consumer staples drifted lower.

Commodity prices were steady, but shares from energy and materials sectors turned in a mixed performance, with investors mostly tracking company specific news for direction.

The benchmark S&P/TSX ended up 7.32 points or 0.04% at 16,331.03, after scaling a high of 16,370.92 and a low of 16,317.37 intraday. On Friday, the index ended up 98.06 points or 0.60% at 16,323.71.

The Capped Healthcare Index climbed up 7.79%. Canopy Growth Corporation (WEED.TO) soared nearly 11%, extending previous session's sharp gain on news Constellation Brands Inc. will invest around $4 billion in the company.

Aurora Cannabis Inc. (ACB.TO) jumped 17%. The company announced today that it has set August 24, 2018 as the record date for the distribution of Australis units, in connection with the spin-out of Australis Capital Inc.

Aphria Inc. (APH.TO) climbed up 7.5%, Extendicare Inc. (EXE.TO) advanced 4.3%, Knight Therapeutics Inc. (GUD.TO) gained 3.8% and Bausch Health Companies Inc. (BHC.TO) gained 1.85%.

Among energy stocks, Suncor Energy (SU.TO) and Cenovus Energy Inc. (CVE.TO) ended modestly higher, while Encana Corporation (ECA.TO), Husky Energy Inc. (HSE.TO), Vermilion Energy Inc. (VET.TO) and PrairieSky Royalty declined by 0.5% - 1.1%.

Baytex Energy Corp. (BTE.TO) advanced by 2.2% and Largo Resources (LGO.TO) ended up 9.4%.

In the materials space, Nutrien (NTR.TO), First Quantum Minerals (FM.TO), Agnico Eagle Mines (AEM.TO), Wheaton Precious Metals Corp. (WPM.TO) and CCL Industries Inc. (CCL.B.TO) lost 0.6% to 1.3%, while Methanex Corporation (MX.TO) and Barrick Gold Corporation (ABX.TO) gained 1.5% and 1%, respectively. B2Gold Corp. (BTO.TO) ended 7.7% up.

Among information technology stocks, Constellation Software Inc. (CSU.TO) declined by 1.75%, Shopify Inc. (SHOP.TO) ended down 1% and Enghouse Systems (ENGH.TO) eased by about 0.7%, while BlackBerry (BB.TO) gained 0.55% and Celestica Inc. (CLS.TO) added 0.7%.

Bank of Nova Scotia (BNS.TO) gained 0.35% and National Bank of Canada declined by about 0.25%. Other major banks ended little changed.

Asian stocks ended mostly higher on Monday amid optimism the U.S.-China trade talks will result in a de-escalation in trade tensions.

European stocks ended on a firm note despite heightened tensions between the United States and Turkey after gunshots were fired early Monday at the U.S embassy in Ankara. Optimism ahead of lower-level trade talks between the U.S. and China this week helped fuel the gains.

Markets also reacted positively to news that Greece has finally emerged out of its final bailout programme and can now re-enter the capital market and raise own funds for the first time in eight years.

The U.S. market ended mixed with investors looking ahead to the release of the FOMC meeting minutes this week and a meeting of central bankers at the Kansas City Fed's Jackson Hole symposium for clues on next month's U.S. interest rate hike.

In economic news from Europe, data from Eurostat showed that Eurozone construction output increased for the third straight month in June, advancing 0.2% month-over-month, but slower than the 0.3% rise in May. Output of civil engineering activity grew 0.3% over the month and building output gained by 0.1%.

On a yearly basis, growth in construction output accelerated further to 2.6% in June from 2% in the prior month, which was revised up from 1.8% reported earlier.

Meanwhile, Germany's producer price inflation held steady in July, in line with expectations, figures from Destatis showed. Producer prices grew 3% year-on-year in July, the same rate of increase as in June. On a monthly basis, producer prices edged up 0.2% from June, when it gained 0.3%. Excluding energy, producer prices climbed 1.9% annually and by 0.1% monthly in July.

In commodities, crude oil futures for September delivery ended up $0.52, or 0.8%, at $66.43 a barrel, extending gains to a third successive session.

Natural gas futures were up marginally at $2.952 per million btu.

Gold futures for December ended at $1,194.60 an ounce, up $10.40, or 0.88%, the biggest gain in a single session in nearly a month.

Silver futures for September ended at $14.670 an ounce, gaining $0.039 in the session, while copper futures for September settled up $0.395, at 2.6685 per pound.

Silver futures for September were up $0.064, or 0.44%, at $14.695 an ounce. Copper futures were higher by $0.036, or 1.37%, at 2.665 per pound.