Stocks Continue in Red After Jobs Figures
Canada''s resource-heavy main stock index fell on Friday and was set to end the week lower, as energy stocks posted steep weekly losses, while fears of an aggressive policy tightening path by central banks weighed on global sentiment. The TSX dropped 106.75 points to break for lunch at 19,470.29. The Canadian dollar declined 0.43 cents to 77.27 cents U.S. Among individual movers, Canopy Growth slumped 26 cents, or 7.1%, to $3.43, on posting another core loss, denting investor hopes that the cannabis producer would turn profitable anytime soon. TC Energy fell $2.73, or 4.2%, to $62.90 after saying on Thursday it had struck a deal with a Mexican state utility to develop a $4.5-billion natural gas pipeline. On the economic slate, Statistics Canada reports the economy shed 31,000 jobs last month, and the unemployment rate was steady at 4.9%. Also Friday, the IVEY Purchasing Managers Index dwindled to 49.6 in July, way below June''s 62.2, and below the 56.4 figure for July 2021 ON BAYSTREET The TSX Venture Exchange dipped 3.3 points to 656.78.
Stocks Continue in Red After Jobs Figures
Canada''s resource-heavy main stock index fell on Friday and was set to end the week lower, as energy stocks posted steep weekly losses, while fears of an aggressive policy tightening path by central banks weighed on global sentiment. The TSX dropped 106.75 points to break for lunch at 19,470.29. The Canadian dollar declined 0.43 cents to 77.27 cents U.S. Among individual movers, Canopy Growth slumped 26 cents, or 7.1%, to $3.43, on posting another core loss, denting investor hopes that the cannabis producer would turn profitable anytime soon. TC Energy fell $2.73, or 4.2%, to $62.90 after saying on Thursday it had struck a deal with a Mexican state utility to develop a $4.5-billion natural gas pipeline. On the economic slate, Statistics Canada reports the economy shed 31,000 jobs last month, and the unemployment rate was steady at 4.9%. Also Friday, the IVEY Purchasing Managers Index dwindled to 49.6 in July, way below June''s 62.2, and below the 56.4 figure for July 2021 ON BAYSTREET The TSX Venture Exchange dipped 3.3 points to 656.78.