Toronto market ends lower but adds to weekly winning streak

Reuters

Toronto market ends lower but adds to weekly winning streak

2024 7월 19, 오후 8:49 GMT

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TSX ends down 0.2% at 22,690.39

For the week, the index gains 0.1%

Energy loses 0.9%; oil settles 3.25% lower

Canadian retail sales fall 0.8% in May

Updates at market close

By Fergal Smith

July 19 (Reuters) -Canada's resource-heavy stock index ended lower for a third straight day on Friday as commodity prices fell and investors weighed the impact of a global technology outage, but the market still held on to a modest weekly gain.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 36.37 points, or 0.2%, at 22,690.39, after steeper declines on Wednesday and Thursday.

For the week, the TSX was up 0.1%, its fourth straight weekly advance, after posting on Tuesday a record closing high at 22,995.39.

"We are having a quiet, low volatility day. Given the carnage in the markets and the disruptions to technology around the world, it's not a bad thing," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

U.S. stocks added to their recent sell-off as a global tech outage disrupted operations across industries, from airlines and broadcasting to healthcare and banking.

The Toronto market's heavily weighted financials sector fell 0.4%, while energy was down 0.9% as the price of oil CLc1 settled 3.25% lower at $80.13 a barrel on the potential for a ceasefire in Gaza.

The materials group .GSPTTMT, which includes metal miners and fertilizer companies, lost 0.4% as gold XAU= and copper HGc1 prices fell.

Nutrien Ltd NTR.TO, the world's largest potash producer, will stop blending fertilizers in Brazil after deciding to shut its last two active processing plants in the country, said three people familiar with the latest phase of a major turnaround effort. The company's shares ended 0.5% lower.

Some of the defensive orientated sectors notched gains, with healthcare rising 0.8% and consumer staples ending up 1.2%.

Canadian retail sales fell 0.8% in May from April, a bigger decline than expected, boosting prospects of the Bank of Canada cutting interest rates further at a policy decision on Wednesday.

Reporting by Fergal Smith in Toronto and Nikhil Sharma in Bengaluru; Editing by Shreya Biswas, Vijay Kishore and Aurora Ellis

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