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TSX Ends Lower For 3rd Straight Day

The Canadian stock market ended lower on Monday, led by losses in healthcare, industrials and telecom sections.

The mood was cautious right through the session due to global growth worries and uncertainty about the outcome of upcoming high level U.S.-China trade negotiations.

Preliminary lower level talks between U.S. and China began today. Later in the week, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, along with top officials are scheduled to be in Beijing for negotiations.

The benchmark S&P/TSX Composite Index ended down 64.48 points, or 0.41%, at 15,568.85. The index, which advanced to 15,660.52 in early trades, declined to a low of 15,545.94 later in the session.

On Friday, the index ended down 70.03 points, or 0.45%, at 15,633, after falling to a low of 15,567.84.

The Capped Healthcare Index declined 2.66%. Canopy Growth Corporation (WEED.TO) ended down 5%, Aurora Cannabis (ACB.TO) drifted down 4.5%, Aphria Inc. (APHA.TO) plunged 9.8%, Green Organic Dutchman Holdings (TGOD.TO) tumbled 7% and Hexo Corp. (HEXO.TO) eased 3.4%.

Knight Therapeutics (GUD.TO) declined 1%, while Extendicare (EXE.TO) gained 1.2% and Bausch Health Companies (BHC.TO) ended stronger by 2.8%.

The Capped Industrial Index ended 0.91% down. SNC-Lavalin Group (SNC.TO) ended 7.4% down after the company warned that its profit for 2018 will be even lower than it cautioned last month, due to problems at an unidentified mining project in Latin America.

Canadian National Railway (CNR.TO) and CAE Inc. (CAE.TO) lost 1.25% and 1.4%, respectively. Bombardier Inc. (BBD.B.TO) ended nearly 3% down, while Air Canada (AC.TO) gained more than 1%.

Among bank stocks, Royal Bank of Canada (RY.TO) and Toronto-Dominion Bank (TD.TO) shed about 0.4% and 0.8%, respectively. National Bank of Canada ended modestly higher, while Bank of Nova Scotia (BNS.TO), Bank of Montreal (BMO.TO) and Canadian Imperial Bank of Commerce (CM.TO) ended flat.

Among energy stocks, Crescent Point Energy (CPG.TO) ended 4.7% down. Encana Corporation (ECA.TO) added 0.75%, Suncor Energy (SU.TO) added 0.4%, Cenovus Energy (CVE.TO) advanced 1.1%, BayTex Energy Corp (BTE.TO) gained 2% and Canadian Natural Resources (CNQ.TO) ended 1.6% up.

In the materials space, Barrick Gold Corporation (ABX.TO) declined 1% and New Gold (NGD.TO) soared 5.2%.

Trilogy Metals Inc. (TMQ.TO) reported full year net loss of $21.8 million, or $0.18 basic and diluted loss per common share, compared to a net loss of $21.1 million, or $0.20 basic and diluted loss per common share, a year earlier. The stock ended modestly higher.

Restaurant Brands International Inc. (QSR.TO) shares gained 2.1% after the company reported adjusted Diluted EPS of $2.63 versus $2.10 in prior year.

Solium Capital Inc. (SUM.TO) shares soared 43.1% after Morgan Stanley (MS) announced that it agreed to acquire Solium Capital Inc to create an industry leader in workplace wealth solutions and stock plan administration services. Morgan Stanley will acquire all of the issued and outstanding common shares of Solium for C$19.15 per share in cash, representing a total equity value of about C$1.1 billion or $0.9 billion.

U.S. stocks ended mixed after lackluster session with investors looking ahead to U.S.-China trade talks. The Dow edged down by about 0.2%, while the Nasdaq and the S&P 500 closed slightly up.

European markets closed on a firm note with traders picking up stocks after recent steep losses. Shares rode on weaker Euro and Pound Sterling.

Asian markets ended mixed on Monday as investors, looking for direction, largely stayed wary of making significant moves.

In commodities, West Texas Intermediate Crude oil futures for March ended down $0.31, or 0.6%, at $52.41 a barrel, well off the day's low of $51.23.

Gold futures for April ended down $6.60, or 0.5%, at $1,311.90 an ounce.

Silver futures for March ended down $0.119, at $15.690 an ounce, while Copper futures for March settled at $2.7900, down $0.0205 for the session.

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