TSX Snaps 6-day Winning Streak, Settles Lower On Virus Outbreak

(RTTNews) - Canadian stocks ended lower on Tuesday, snapping a six-day winning streak that saw the index hitting new highs consistently, as worries about a deadly virus outbreak in China, a downward revision in global growth forecast by IMF, and reports that a U.S. citizen in Seattle was diagnosed with the virus, prompted investors to take some profits.

The benchmark S&P/TSX Composite Index ended down 25.11 points, or 0.14%, at 17,572.28, after scaling a low of 17,536.31 and a high of 17,589.52 in the session.

Shares from information technology, utilities and real estate sections moved higher. Healthcare and energy stocks declined sharply, while financial, material and consumer discretionary shares were mostly subdued.

In the healthcare space, Aurora Cannabis (ACB.TO), Cronos Group (CRON.TO) and Canopy Growth Corp (WEED.TO) lost 3.7 to 5%. Aphria (APHA.TO) and Knight Therapeutics Inc. (GUD.TO) also ended notably lower.

Among energy shares, Crescent Point Energy (CPG.TO), Husky Energy (HSE.TO), Enerplus (ERF.TO) and MEG Energy Corp (MEG.TO) lost 5 to 6%. Baytex Energy (BTE.TO) declined 2.8% and Imperial Oil (IMO.TO) ended nearly 2% down. Canadian Natural Resources (CNQ.TO) and Seven Generations Energy (VII.TO) also ended notably lower.

Information technology stock Exfo Inc. (EXF.TO) climbed nearly 4%. Constellation Software (CSU.TO) ended 3.3% up and Shopify Inc. (SHOP.TO) gained nearly 2%.

Among stocks from other sectors, Ballard Power Systems (BLDP.TO) plunged nearly 12%. First Quantum Minerals (FM.TO) shed 7.25%, Air Canada (AC.TO) declined 4.5% and Manulife Financial Corporation (FM.TO) ended 2.7% down.

Bombardier Inc. (BBD.B.TO) gained 5.75% and Yamana Gold (YRI.TO) ended nearly 1.8% down.

In economic news, data released by Statistics Canada showed manufacturing sales in Canada declined 0.6% to $57.0 billion in November, falling for the third consecutive month.

U.S. stocks ended notably lower amid concerns about the economic impact of a deadly coronavirus outbreak in China. The major averages all finished the day in negative territory. The Dow slid 0.5%, the Nasdaq dipped 0.2% and the S&P 500 fell 0.03% percent.

Markets across the Asia-Pacific region and Europe ended lower on growth worries and concerns over the outbreak of Coronavirus.

In commodities, West Texas Intermediate Crude oil futures for March, the new front-month contract, edged down $0.20, or about 0.3%, to $58.38 a barrel.

Gold futures for February ended down $2.40, or about 0.2%, at $1,557.90 an ounce.

Silver futures for March ended down $0.265 at $17.808 an ounce, while Copper futures for March settled lower by $0.0520 at $2.7935 per pound.