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TSX Ends Lower Again

The Canadian stock market ended notably lower on Monday, weighed down by some adverse news on the corporate front and amid fears of a possible recession due to the escalation in U.S.-China trade tensions.

Concerns about the impact of increasingly violent protests in Hong Kong also weighed on global stocks, with the Hong Kong International Airport canceling all departing flights due to the disruption caused by protesters.

Energy and consumer discretionary shares were among the prominent losers. Financial and materials shares mostly ended week and there were losses for some key shares in the consumer staples, industrials and information technology sections. A sell-off at the cannabis counter CannTrust Holdings (TRST.TO) hurt as well.

The benchmark S&P/TSX Composite Index ended dowm 103.57 points, or 0.63%, at 16,237.77, the day's low. It's high for the day was 13,776.87.

On Friday, the benchmark S&P/TSX Composite Index ended at 16,341.34 with a loss of 63.19 points, or 0.39%.

Among energy shares, Enerflex (EFX.TO) plunged 11.75%. Nuvista Energy (NVA.TO) and Precision Drilling Corporation (PD.TO) ended lower by 8.4% and 8.2%, respectively. Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), Canadian Natural Resources (CNQ.TO), Tourmaline Oil Corp. (TOU.TO), MEG Energy (MEG.TO), Husky Energy (HSE.TO), PrairieSky Royalty (PSK.TO) and Crescent Point Energy (CPG.TO) lost 1 to 3.5%, while Encana Corp. (ECA.TO) bucked the trend and gained 1.8%.

Among consumer discretionary stocks, Stars Group Inc. (TSGI.TO) plummeted 18.75%.

In the financial space, Ecn Capital Corp. (ECN.TO) declined 5.5%. Bank stocks Bank of Montreal (BMO.TO), Royal Bank of Canada (RY.TO), Toronto-Dominion Bank and Canadian Imperial Bank of Commerce (CM.TO) ended lower by 1 to 1.3%.

In the mining space, Nutrien (NTR.TO), Yamana Gold (YRI.TO), Methanex Corp. (MX.TO), Wheaton Precious Metals (WPM.TO) and Kinross Gold (K.TO) ended notably lower.

Canfor Corp. (CFP.TO) soared 73.4%. The company confirmed that it received an unsolicited and non-binding proposal from Great Pacific Capital Corp. pursuant to which Great Pacific has suggested that it would be willing to acquire all outstanding common shares of Canfor at a price of $16.00 per common share.

Canfor cautioned its shareholders and potential investors that the Indicative Offer is non-binding on Great Pacific and there can be no certainty that the Indicative Offer or any other strategic transaction with Great Pacific or any other person will be pursued by Canfor, supported by Canfor's board of directors or ultimately completed.

Interfor Corp. (IFP.TO) rose 6.75%. MAG Silver (MAG.TO), Cascades Inc. (CAS.TO), Semafo (SMF.TO) gained 2 to 4%.

CannTrust Holdings Inc. (TRST.TO) shares plunge nearly 28%. after the company said its manufacturing facility in Vaughan, Ontario, has been rated non-compliant by Health Canada.

The company said it was notified by Health Canada on Friday and added that remedial actions were underway. The decision by the regulator was based on an inspection in July following revelations that Health Canada had found the company's greenhouse in Pelham, Ontario, to be non-compliant.

Air Canada (AC.TO) shares gained about 1.6%. The airliner has raised the value of its offer to buy Canadian tour operator Transat AT Inc (TRZ.TO) to about C$720 million, or C$18 per share. Earlier, it had made an offer of C$13 a share, the companies said in a joint statement. Transat AT shares soared more than 40%.

U.S. stocks ended sharply lower amid worries about a prolonged trade war between the U.S. and China after President Donald Trump recently indicated he feels no sense of urgency to resolve the dispute.

European markets ended mostly lower, while Asian markets turned in a mixed performance.

In commodities, West Texas Intermediate crude oil futures for September ended up $0.43, or about 0.8%, at $54.93 a barrel.

Gold futures for December ended up $8.70, or about 0.6%, at $1,517.20 an ounce.

Silver futures for September ended up $0.140, at $17.701 an ounce, while Copper futures for September settled at $2.5850 per pound, losing $0.0040.

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