Brenda O’Farrell
Investing.com – Only three stocks on the S&P/TSX Composite were trading up at midday on Friday. The main Canadian stock exchange was down 3.29%, losing about 547 points so far on the day, the second day of heavy selloff over the growing fears of the economic fallout of the spreading coronavirus.
SNC-Lavalin Group Inc . (TSX:SNC) was the top performer, gaining 3.59% just before 1 p.m. Eastern, followed by Chartwell Retirement Residences (TSX:CSH_u), which was posting a 1.43% increase, and Cameco Corp. (TSX:CCO), which was up 0.72%.
SNC-Lavalin reported its fourth-quarter earnings before the opening bell, posting a $292.9-million loss, mostly accounting a $280-million fine the engineering firm’s construction division had to pay after pleading guilty to fraud for actions in Libya during a 10-year period from 2001 and 2011. The company’s shares opened down, but edged upward as the day progressed.
As this tumultuous week on the markets comes to an end, only two companies listed on the S&P/TSX Composite are posting gains for the week – MTY Food Group Inc (TSX:MTY), up 3.46, and Kinaxis Inc (TSX:KXS), up a slim 0.07, for the five-day period.