Baystreet.ca - Equities in Canada’s largest market were again negative Tuesday, weighed down by energy and communications stocks, as the country's political turmoil turned investors risk averse.
The TSX ended the day down 27.5 points Tuesday at 25,119.71.
The Canadian dollar fell 0.37 cents to 69.88 cents U.S.
Communications weighed most heavily on the market, as Cogeco (TSX:CGO) sank $1.79, or 2.6%, to $$66.80, while Quebecor (TSX:QBRa) lost 70 cents, or 2.2%, to $31.14.
In consumer staples, George Weston (TSX:WN) fell $4.95, or 2.1%, to $228.75, whileMetro shares dropped $1.61, or 1.7%, to $91.54.
Heavyweight energy stocks fell the most, after oil prices dipped as Chinese economic data renewed demand concerns. Shares in Kelt Exploration (TSX:KEL) slid 14 cents, or 2.2%, to $6.24, while those for Arc Resources subsided 72 cents, or 2.9%, to $24.38.
Real-estate stocks tried to provide some sunshine amid the gloom, as units in Riocan REIT (TSX:REI_u) captured 39 cents, or 2.1%, to $18.64, while First Capital REIT gained 30 cents, or 1.7%, to $17.63.
Health-care shares gained ground, as Tilray (TSX:TLRY) climbed seven cents, or 4.1%, to $1.76, while Chartwell Retirement (TSX:CSH_u) Residences claimed 46 cents, or 3%, to $15.92.
Techs were also positive, as BlackBerry (TSX:BB) grabbed 16 cents, or 3.6%, to $4.56, while Shopify (TSX:SHOP) jumped $5.56, or 3.4%, to $170.88.
In economic news, Statistics Canada’s Consumer Price Index rose 1.9% on a year-over-year basis in November, down from a 2.0% increase in October. On a seasonally adjusted monthly basis, the CPI rose 0.1% in November.
Elsewhere, the agency said foreign investors increased their exposure to Canadian securities by $21.5 billion in October, a second consecutive month marked by significant investment activity. Meanwhile, Canadian investors reduced their holdings of foreign securities by $2.6 billion, the first divestment since January.
Lastly, the new housing price index edged up 0.1% on a month-over-month basis in November. Prices were up in eight of the 27 census metropolitan areas surveyed, while prices were unchanged in 15 CMAs and declined in four.
ON BAYSTREET
The TSX Venture Exchange slid four points to 597.25
Eight of the 12 TSX subgroups were lower, weighed most by communications, listing lower 1.4%, consumer staples, sinking 1%, and energy, down 0.7%
The four gainers were led by real-estate, advancing 0.4%, consumer discretionary, eking up 0.3%, and health-care, inching up 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average entered the history books Tuesday with its first nine-day losing streak since 1978.
The 30-stock index tumbled 267.58 points to 43,455.67.
The S&P 500 index declined 23.47 points to 6,050.61
The tech-heavy NASDAQ stumbled 64.83 points to 20,109.06.
The Dow’s losing streak began the day after it closed above 45,000 for the first time ever earlier in the month.
What’s strange, however, is that Nvidia (NASDAQ:NVDA), a new tech member of the Dow that joined in November, has also struggled despite the tech sector’s recent gains, slipping into correction territory Monday.
Tesla (NASDAQ:TSLA) was higher again on Tuesday, though Broadcom (NASDAQ:AVGO) lost 3.6%.
November’s retail sales figure, out Tuesday, came in better than economists expected, adding to concern that the Fed may be taking unnecessary action.
Prices for the 10-year Treasury regained ground, raising yields to Monday’s 4.40%. Treasury prices and yields move in opposite directions.
Oil prices dropped 55 cents to $70.16 U.S. a barrel.
Prices for gold faded $8.60 an ounce to $2,661.40 U.S.