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CANADA STOCKS-TSX closes at 14-week low on hawkish Fed, lower gold prices

Published 2018-02-01, 04:34 p/m
© Reuters.  CANADA STOCKS-TSX closes at 14-week low on hawkish Fed, lower gold prices
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By Nichola Saminather

TORONTO, Feb 1 (Reuters) - Canada's benchmark stock index ended its fourth day of losses at a 14-week low, as a hawkish Federal Reserve sapped demand for equities, with two cannabis producers posting the biggest declines on Thursday.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 90.75 points, or 0.57 percent, at 15,860.92, its lowest close since Oct. 25.

* Marijuana producer Aphria Inc APH.TO was the biggest decliner, with a 12.4 percent loss, followed by its rival Canopy Growth WEED.TO , which fell 11.2 percent.

* Aphria said on Thursday it is considering the sale of its U.S. business. It came after the U.S. Department of Justice in January revoked an Obama administration policy that discouraged federal prosecutors from pursuing marijuana-related crimes in states that had legalized the drug. Technology company Open Text Corp OTEX.TO was the biggest gainer, closing up 12.7 percent after reporting a 35 percent increase in second-quarter revenue and seeing ratings upgrades by several analysts.

* Technology and consumer cyclicals were the sectors with the biggest gains, while industrials posted the biggest losses.

* Among the most active Canadian stocks by volume were Canopy and Aphria; Bombardier Inc BBDb.TO , down 2.3 percent at C$ 3.40; and Ivanhoe Mines IVN.TO , losing 3.1 percent to C$3.41.

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