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TSX Ends Slightly Weak

The Canadian stock market ended slightly lower on Thursday, despite spending a good part of the day's session in positive territory.

Concerns about renewed tensions between the U.S. and China - this time over the Hong Kong issue - rendered the mood cautious. Weak crude oil prices weighed as well, while the market got some support as investors were hoping the economy will start recovering sooner than later thanks to reopening of businesses in several parts across the globe.

The benchmark S&P/TSX Composite Index ended down 9.30 points, or 0.06%, at 15,262.73, after scaling a low of 15,226.86 and a high of 15,342.43 intraday.

Healthcare and consumer staples shares rose sharply. Shares from utilities and telecom sections too found good support.

The Capped Healthcare index climbed up more than 3%. Canopy Growth Corp (WEED.TO) soared 12% and Aphria Inc. (APHA.TO) gained about 4%.

In the consumer staples section, Empire Company (EMP.A.TO), Saputo Inc. (SAP.TO), Weston George (WN.TO), Metro Inc. (MRU.TO) and Loblaw (L.TO) gained 2 to 3.15%.

Among energy stocks, Whitecap Resources (WCP.TO) declined 5.5%. Shawcor (SCL.TO), Seven Generations Energy (VII.TO), Vermilion Energy (VET.TO), Husky Energy (HSE.TO), Enerplus Corp (ERF.TO), Imperial Oil (IMO.TO), Cenovus Energy (CVE.TO) and ARC Resources (ARX.TO) lost 2 to 4%.

In the financial section, Toronto-Dominion Bank (TD.TO) declined 3.8%. The TD Group reported adjusted net income of $1.6 billion or $0.85 per share for the second quarter compared with adjusted net income of $3.27 billion or $1.75 per share a year ago.

Canadian Imperial Bank of Commerce (CM.TO) shed 2%. The bank reported adjusted net income of $441 million for the second quarter ended April 30, 2020, compared with adjusted net income of $1.36 billion in the year-ago quarter. Adjusted EPS dropped to $0.94 in the latest quarter from $2.97 a year ago.

On the economic front, Canada's current account deficit rose to C$ 11.1 billion in the first quarter of 2020 from an upwardly revised C$ 9.3 billion in the the previous. That was much higher than market's expectations of a shortfall of C$ 10 billion.

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