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TSX ends down 81.79 points, or 0.4%, at 20,597.75
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Materials sector falls 1.2%; energy ends 0.8% lower
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Bombardier falls after quarterly results
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Canopy Growth among top TSX losers
(Adds strategist quotes and details throughout, updates prices)
By Fergal Smith
Feb 9 (Reuters) - Canada's main stock index fell on
Thursday, pressured by declines in resource shares, as investors
took their cue from lower commodity prices and losses on Wall
Street.
The Toronto Stock Exchange's S&P/TSX composite index ended down 81.79 points, or 0.4%, at 20,597.75, adding
to its decline on Wednesday.
"It's one of those days where I think we're getting dragged
a bit by world markets and falling commodity prices, said Colin
Cieszynski, chief market strategist at SIA Wealth Management.
"It held up reasonably well all things considered."
U.S. stock indexes also fell, with the declines deeper than for the Toronto market, after an auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo. The Toronto market's energy sector fell 0.8% as the price of oil settled 0.5% lower at $78.06 a barrel, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 1.2%. Gold fell 0.7% to about $1,862 per ounce. Among the biggest decliners was Bombardier Inc . Its shares fell 11.8% even as the business jet maker forecast higher business jet deliveries for 2023.
Shares of Canopy Growth Corp dropped 16.6% as the cannabis producer posted a bigger third-quarter core loss and said it would reduce its workforce by about 60%. Colliers International Group Inc shares were a bright spot, jumping 6.7% as the real estate services firm projected 2023 adjusted profit above analysts' forecast. (Reporting by Fergal Smith: Additional reporting by Shristi Achar A in Bengaluru; Editing by Krishna Chandra Eluri and Diane Craft)
