Canadian stocks continued to slip for the second day in a row on Wednesday, as investors continued to speculate about upcoming monetary policy moves. The S&P/TSX Composite Index ended the session with a loss of 0.7%, or 144 points at 19,079. Crude oil prices eased yesterday after trading on a firm note in the previous three sessions, pressuring Canadian energy stocks. Other key sectors, like metals and mining, healthcare, and technology, also ended the session deep in the red. Weaker-than-expected U.S. GDP and the Chinese manufacturing PMI numbers reignited concerns about slowing economic growth.
Top TSX movers and active stocks
Shares of Corus Entertainment (TSX: CJR.B) slipped by 7.8% to $3.67 per share on June 29 after the company reported its Q3 financial results. In the May quarter, the Canadian media company’s revenue rose 7.6% year over year to $433.5 million — slightly stronger compared to analysts’ estimates. However, its adjusted earnings of $0.15 per share missed Street’s estimates of $0.20 per share — disappointing investors. Year to date, Corus Entertainment’s stock has lost nearly 23% of its value.
Aurora Cannabis, Capstone Mining, Crescent Point Energy, and Denison Mines were also among the worst-performing TSX stocks in the last session, as they fell by more than 7% each.
On the positive side, shares of Alamos Gold and George Weston rose by 4.4% and 2.8%, respectively — making them the top-performing TSX Composite components for the day.
Based on their daily trade volume, Whitecap Resources, Bank of Nova Scotia, Crescent Point Energy, and Baytex Energy were the most active stocks on the exchange.
TSX today
Early Thursday morning, commodity prices across the board were showcasing weakness. In addition, nearly all key Asian and European stock indexes — except China’s Shanghai Composite — posted big intraday losses. Given these negative indicators, the TSX Composite benchmark will likely open sharply lower today.
Besides domestic GDP numbers for April, Canadian investors could eye on the latest personal consumption expenditure and initial jobless claims data from the U.S. market this morning.
