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TSX Ends Flat After Lackluster Session

The Canadian stock market ended weak on Tuesday, weighed down by losses in energy and information technology sections.

The market was down in the red for much of the trading session, as investors largely refrained from creating long positions amid worries about U.S.-China trade dispute and on uncertainty about the near term outlook for U.S. interest rates.

The benchmark S&P/TSX Composite Index ended down 8.40 points, or 0.05%, at 16,502.42. The index touched a low of 16,467.13 and a high of 16,521.99 in the session.

Energy stocks tumbled after crude oil prices plunged sharply on reports U.S. and Iran may start negotiations on the missile issue. The Capped Energy Index shed 1.59%.

Enerplus Corp. (ERF.TO), MEG Energy (MEG.TO), Husky Energy (HSE.TO), PrairieSky Royalty (PSK.TO), Kelt Exploration (KEL.TO), Canadian Natural Resources (CNQ.TO), Suncor Energy (SU.TO), Parex Resources (PXT.TO), Vermilion Energy (VET.TO) and Encana Corporation (ECA.TO) lost 1.6 to 3.2%.

In the information technology space, Descartes Systems Group (DSG.TO), Absolute Software Corp. (ABT.TO), Shopify Inc. (SHOP.TO) and Constellation Software (CSU.TO) lost 1.3 to 2%.

Shares from industrials section had a good outing. Richelieu Hardware (RCH.TO) rallied more than 5%, Canadian Pacific Railway (CP.TO) gained 4.1% and Aecon Group (ARE.TO) moved up 3.2%.

Transcontinental Inc. (TCL.A.TO), Tfi International (TFII.TO), Ritchie Bros Auctioneers (RBA.TO) and Canadian National Railway (CNR.TO) moved up 2 to 3%. SNC-Lavalin (SNC.TO), Bombardier Inc. (BBD.B.TO), Toromont Industries (TIH.TO) and Air Canada (AC.TO) also posted strong gains.

Among the stocks in the Healthcare Index, Aurora Cannabis (ACB.TO) gained 2.6%, Canopy Growth Corporation (WEED.TO) advanced 1.6% and Extendicare Inc. (EXE.TO) gained 1.5%. CannTrust Holdings (TRST.TO) which posted strong gains on Monday after having suffered some hefty losses in the previous week, ended lower by about 9.5%.

Consumer discretionary stocks The Stars Group (TSGI.TO), Martinrea International (MRE.TO), Canada Goose Holdings (GOOS.TO) and Gildan Activewear (GIL.TO) rose sharply.

In the mining space, Fortuna Silver Mines (FVI.TO) soared nearly 15%. First Majestic Silver Corp. (FR.TO) climbed up 8.5%, Pan American Silver Corp. (PAAS.TO) gained 6.4% and First Quantum Minerals (FM.TO) advanced 6.2%.

New Gold (NGD.TO), MAG Silver Corp. (MAG.TO), Hudbay Minerals (HBM.TO), Eldorado Gold (ELD.TO), Oceanagold Corp. (OGC.TO), Wheaton Precious Metals (WPM.TO), Nutrien (NTR.TO) and Norbord Inc. (OSB.TO) gained 1.5 to 5%.

In the banking space, CDN Western Bank (CWB.TO) gained nearly 1%. Toronto-Dominion Bank (TD.TO) and Royal Bank of Canada (RY.TO) edged up marginally. Bank of Montreal (BMO.TO), National Bank of Canada (NA.TO) and Bank of Nova Scotia (BNS.TO) closed slightly weak, while Canadian Imperial Bank of Commerce (CM.TO) shed 0.6%.

In economic news, a report from Statistics Canada showed that foreigners acquired $10.2 billion of Canadian securities in May, following two months of divestment.

Meanwhile, Canadian investment in foreign securities reached $4.1 billion in May, led by purchases of U.S. corporate bonds.

U.S. stocks ended modestly lower after fluctuating over the course of the trading session. The Dow hit a new record intraday high, but ended the day with a loss of 0.1%. The Nasdaq slid 0.4% and the S&P 500 declined 0.3%.

The markets across Europe closed higher, while those in the Asia-Pacific region turned in a mixed performance.

In commodities, West Texas Intermediate Crude oil futures for August ended down $1.96, or 3.3%, at $57.62 a barrel, the lowest settlement since July 5.

Gold futures for August ended down $2.30, or about 0.2%, at $1,411.20 an ounce.

Silver futures for September ended up $0.313, at $15.678 an ounce, while Copper futures for September settled at $2.7000 per pound, down $0.0110 from previous close.

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