TSX Fades Tuesday


Equities in Toronto lost some of their mojo Tuesday, as health-care strength could not overcome losses in energy,

The TSX Composite sank 29.76 points to close Tuesday at 21,912.52.

The Canadian dollar eased 0.08 cents to 73.6 cents U.S.

Health-care stocks led the way, with Tilray surging 24 cents, or 8.2%, to $3.16, while Bausch Health Companies moved higher 45 cents, or 3.5%, to $13.34.

In tech issues, HUT 8 Mining galloped 59 cents, or 4.6%, to $13.38, while Dye & Durham tacked on 41 cents, or 2.7%, to $15.34.

In consumer stocks, BRP Inc. popped $1.54, or 1.9%, to $84.63, while Sleep Country Canada grabbed 68 cents, or 2.3%, to $29.98.

In the energy sector, RBC downgraded oil explorer Athabasca Oil to “sector perform” from “outperform”. Athabasca shares retreated 27 cents, or 4.9%, to $5.19. Imperial Oil lost 55 cents to $93.15.

ON BAYSTREET

The TSX Venture Exchange gained back 1.57 points to 548.47.

All but three of the 12 TSX subgroups were lower, with energy sliding 0.7%, while real-estate and consumer staples each settled 0.2%.

The three gainers were health-care, up 2.8%, while consumer discretionary moved ahead 0.3%, and information technology, up 0.1%.

ON WALLSTREET

The S&P 500 fell for a third consecutive session on Tuesday.

The Dow Jones Industrials dropped 31.31 points to 39,282.33.

The much-broader index sagged 14.61 points to 5,203.58.

The NASDAQ waned 68.77 points to 16,315.70.

A varied group of stocks moving higher on Tuesday included Tesla, which gained nearly 3% in a turnaround for the electric vehicle manufacturer that has so far floundered this year. Shares of Seagate Technology rose about 7.4% after an upgrade to overweight at Morgan Stanley on optimism over artificial intelligence. Krispy Kreme rallied 39% after the doughnut retailer announced it would expand its partnership with McDonald’s.

Economic data released Tuesday showed orders for long-lasting goods in the U.S. rose by 1.4% in February, exceeding the 0.8% StreetAccount consensus.

On the other hand, March’s consumer confidence index came in lower than what economists had expected, indicating waning optimism in the U.S. economy.

Still, the major averages are on pace for their fifth straight winning month. The broad market index is up more than 2% in March. The NASDAQ Composite is toting a 1.8% advance for the period, while the Dow is up 0.8%.

Prices for the 10-year Treasury grew, lowering yields to 4.23% from Monday’s 4.25%. Treasury prices and yields move in opposite directions.

Oil prices dipped 49 cents to $81.46 U.S. a barrel.

Gold prices picked up $2.10 to $2,200.30.



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