Canadian stocks fell for the sixth consecutive session to post its longest losing streak in 2023, as growing macroeconomic challenges and declining commodity prices worried investors. The S&P/TSX Composite Index dived by 163 points, or 0.8%, on Friday to 19,418 — its lowest closing level since March 17.
Despite minor gains in some industrial stocks, heavy losses in all other key sectors, including healthcare, energy, and utilities, pressured the Canadian market benchmark. With this, the main TSX index ended the week with 2.8% losses to deliver its worst performance in 15 weeks.
Top TSX Composite movers and active stocks
Bombardier (TSX:BBD.B) tanked by 6.7% in the last session to $60.41 per share, making it the worst-performing TSX Composite component for the day. Following this decline, the Dorval-headquartered business jet maker released an update on its supply chain activities after the market closing bell.
In its latest statement, Bombardier confirmed that its “supply chain activities do not include deliveries from Spirit AeroSystems’s Wichita, Kansas location,” and its manufacturing and delivery activities continue as planned. These recent declines in Bombardier stock trimmed its year-to-date gains to 15.6%.
Spartan Delta, Tilray Brands, and iA Financial were also among the bottom performers on the Toronto Stock Exchange, as they slipped by at least 4% each.
On the flip side, ARC Resources, Equinox Gold, Thomson Reuters, and B2Gold inched up by at least 2% each, making them the session’s top-performing TSX stocks.
Based on their daily trade volume, Power Corporation of Canada, Canadian Natural Resources, Cenovus Energy, and Baytex Energy were the most heavily traded stocks on the exchange.
TSX today
After declining sharply last week, precious metals prices were staging a recovery early Monday morning, which could help shares of major gold and silver miners on the TSX rise at the open today. While no key economic releases are due on June 26, Canadian investors may want to remain cautious ahead of Tuesday’s domestic inflation report and the U.S. consumer confidence data.
Later during the week, the Federal Reserve chair Jerome Powell’s comments during the European Central Bank Forum and other important economic data, including U.S. gross domestic product (GDP), Canada’s GDP, and U.S. monthly home sales, will likely give further direction to stocks.
Market movers on the TSX today
