Canada Stocks Close Lower; GDP Grows More Than Expected; Bombardier Most Active


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Canadian stock closed lower on Thursday down 94 points, most sectors were lower led down by Healthcare and Info Tech, Financial bucked the trend.

Solid growth in Canada reported on Thursday failed to buoy the broader market. The monthly gross domestic product data, released by Statistics Canada on Thursday, showed the economy continued to bounce back from a downturn in June caused by severe flooding in Calgary. The economy contracted 0.5% in June and then surged by 0.6% in July. The gain in August of 0.3% was a notch stronger than expected. Analysts had forecast, on average, a 0.2% expansion.

Bombardier was the most active stock on the TSX, declining 10.23% with 25 million shares trading hands. Earlier today, the company reported third-quarter adjusted earnings of $165 million or 9 cents a share, from $173 million or 9 cents a year earlier. That missed the 10 cents expected. Revenue dropped to $4.06 billion from $4.21 billion.

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This article appears in: Investing , Commodities

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