TSX Snaps Winning Streak, Ends Modestly Lower

(RTTNews) - The Canadian market snapped an 8-session winning streak and ended lower on Thursday, weighed down by heavy losses posted by cannabis shares. Shares from materials space fell as well, contributing to market's weakness.

The benchmark S&P/TSX Composite Index, which hit a fresh record high at 18,527.88 a day earlier, tumbled to 18,325.50 on Thursday before settling at 18,392.99, posting a loss of 64.79 points or 0.35%.

The Capped Healthcare Index plunged 17.36%. Aphria Inc. (APHA.TO) tanked 36% and Aurora Cannabis (ACB.TO) tumbled 23.6%, while Cronos Group (CRON.TO) and Canopy Growth Corp (WEED.TO) both ended lower by about 22%.

Hexo Corp (HEXO.TO) and Organigram Holdings (OGI.TO) went down by over 25% and 40%, respectively.

Among materials shares, Osisko Mining (OSK.TO), Novagold (NG.TO), Methanex Corp (MX.TO), Torex Gold Resources (TXG.TO), New Gold (NGD.TO), Wheaton Precious Metals (WPM.TO), Kirkland Lake Gold (KL.TO), Ssr Mining (SSRM.TO) and Agnico Eagle Mines (AEM.TO) lost 2 to 4%.

Among other major losers, Bombardier Inc (BBD.B.TO) plunged more than 16%. The company reported net loss of US$423 million or US$0.18 per share for the fourth quarter, compared with US$1.77 billion or US$0.74 per share in the previous year. Revenues for the fourth-quarter declined to $2.34 billion from $2.41 billion in the prior year.