TSX Ends Weak As Energy, Technology Stocks Tumble

(RTTNews) - The Canadian stock market ended notably lower on Thursday, dragged down by sharp losses in energy, healthcare and technology sections.

Several stocks from utilities, materials and real estate sectors too closed mostly lower, while a few stocks from financial and industrials sections posted notable gains.

The benchmark S&P/TSX Composite Index ended down 146.63 points or 0.77% at 18,836.47. The index touched a low of 18,813.31 and a high of 18,989.62 in the session.

The Capped Energy Index slid 5.24% as stocks in the section tumbled following a sharp plunge in crude oil prices amid concerns about outlook for energy demand. Vermilion Energy (VET.TO), Enerplus Corp (ERF.TO), Crescent Point Energy (CPG.TO) and MEG Energy (MEG.TO) lost 7.8 to 9%. Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Whitecap Resources (WCP.TO) and Cenovus Energy (CVE.TO) declined 5 to 6%.

Healthcare stocks Aphria Inc. (APHA.TO) and Aurora Cannabis (ACB.TO) ended lower by 6.3% and 5%, respectively. Canopy Growth Corp (WEED.TO), Trillium Therapeutics (TRIL.TO) and Cronos Group (CRON.TO) shed 3.7 to 4%.

In the technology section, Lightspeed Pos (LSPD.TO), BlackBerry (BB.TO) and Photon Control (PHO.TO) lost 5.7 to 6.5%. Shopify Inc. (SHOP.TO), Sierra Wireless (SW.TO), Docebo Inc. (DCBO.TO) and Celestica Inc (CLS.TO) also declined sharply.

Financial stocks Fairfax Financial Holdings (FFH.TO), Power Corporation of Canada (POW.TO), Manulife Financial Corporation (MFC.TO), Canadian Imperial Bank of Commerce (CM.TO), Bank of Montreal (BMO.TO), National Bank of Canada (NA.TO) and Toronto-Dominion Bank (TD.TO) gained 1 to 2%.

According to a report from Automatic Data Processing Inc., private businesses in Canada shed 100,800 jobs in February, after a revised 65,800 decrease in January.

Data from Statistics Canada showed prices of new homes in Canada rose by 1.9% from the previous month in February, the most since February 1989. New house prices rose 7% year over year, the largest increase since July 2007.