TSX Ends Weak For 4th Straight Session

The Canadian market ended weak on Friday, losing for a fourth straight session on worries the surging coronavirus could dent the pace of global economic recovery.

Healthcare stocks were the most prominent losers. Real estate, materials and telecom stocks too were mostly weak. Stocks from the rest of the sectors turned in a mixed performance.

The benchmark S&P/TSX Composite Index closed lower by 72.21 points or 0.35% at 20,633.06, less than a couple of points from the day's low. The index touched a high of 20,759.16. The index shed about 0.9% this week.

Healthcare shares Canopy Growth Corp (WEED.TO), Aurora Cannabis (ACB.TO), Tilray Inc. (TLRY.TO) and Organigram Holdings (OGI.TO) lost 2.8 to 4%.

Lithium Americas Corp (LAC.TO) soared 7.8%, Cameco Corporation (CCO.TO) gained 6.8%, Tecsys Inc. (TCS.TO) climbed nearly 6%, CNOOC Limited (CNU.TO) gained 3.5% and Canada Goose Holdings (GOOS.TO) ended 2.8% up.

Descartes Systems Group (DSG.TO), Kinaxis Inc. (KXS.TO), TFI International (TFII.TO) and Nuvei Corporation (NVEI.TO) gained 1 to 2.6%.

Rogers Communications (RCI.A.TO) shed 4.4%. Agnico Eagle Mines (AEM.TO), Enghouse Systems (ENGH.TO), Brookfield Renewable Corporation (BEPC.TO), Colliers International Group (CIGI.TO) and Cargojet Inc. (CJT.TO) gained 1.7% to 2.5%.

Data released by Statistics Canada before the opening bell showed the Canadian economy created 90,200 jobs in August, missing market expectations of a 100,000 rise.

Full Time Employment in Canada increased by 68,500 in August. Meanwhile, part-time employment in the country increased to 21,700 in August from 11,000 a month earlier.

The unemployment rate dropped to 7.1% in August, falling for the third straight month. In July, unemployment rate came in at 7.5%.

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