Markets

Update: TSX Closes Week with Modest Losses on Friday as Commodity Stocks Slump; Cannabis Shares Rise

Canada's main stock market posted losses on the final day of the trading week, as commodity stocks took a hit. The S&P/TSX Composite Index was down 34 points or 0.2% to close at 15,506. For the week, the TSX gained about 0.7%, as the Monday to Thursday sessions were all positive. U.S. markets were mixed, with the Dow Jones gaining 64 points, the Nasdaq falling 17 points, and the S&P 500 ending flat.

On the TSX, materials shed 0.8%, energy was off 0.7% even as crude oil jumped nearly 3% this week and settled at US$55.26 per barrel, financials were down 0.3%. Healthcare helped keep the lid on today's losses, rising 1.8%.

In stock news , Teck Resources (TECK-B.TO) slumped 4% after issuing an earnings profit warning related to its energy business and weaker oil prices in Q4 2018. Celestica (CLS.TO) plunged 18% as its earnings report included disappointing guidance. The three most active shares today were all in the cannabis sector: Aurora Cannabis (ACB.TO, +4%), Aphria (APH.TO, +10), Green Organic Dutchman (TGOD.TO, +4%).

There were no economic reports in Canada today following the modest decline in November GDP released on Thursday. The highlight next week is the jobs report, due Friday.

The Canadian dollar gained about a fifth of a cent to 76.41 US. For the week the loonie was up about 0.77 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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