Canadian equity markets finished lower on Thursday as weakness in several cyclical sectors pushed the S&P/TSX Composite down 2.37% at the close in Toronto. Materials, Industrials and IT names were primary drags on the benchmark.
At the individual stock level, Sun Life Financial Inc. (TSX:SLF) was among the session’s strongest performers, advancing 6.32% - a gain of 5.57 points - to close at 93.64. Keyera Corp. (TSX:KEY) rose 3.97% or 1.95 points to finish at 51.03, while AltaGas Ltd (TSX:ALA) added 3.76% or 1.61 points to end the day at 44.38.
Conversely, several names registered steep declines. NovaGold Resources Inc (TSX:NG) posted the largest drop among major movers, falling 13.50% or 2.16 points to close at 13.84. WSP Global Inc (TSX:WSP) declined 12.54% - a loss of 31.76 points - to trade at 221.48 at the close. DPM Metals Inc (TSX:DPM) was down 12.40% or 6.82 points to 48.18.
Market breadth on the Toronto Stock Exchange skewed negative, with 664 stocks falling versus 310 advancing; 64 issues finished unchanged.
Certain price milestones were recorded during the session. Shares of Sun Life Financial reached all-time highs, gaining 6.32% to close at 93.64. Keyera’s shares climbed to 5-year highs, up 3.97% to 51.03. AltaGas also rose to 5-year highs, increasing 3.76% to 44.38. By contrast, WSP Global shares moved to 52-week lows, losing 12.54% to close at 221.48.
Volatility measures moved higher, with the S&P/TSX 60 VIX - which tracks implied volatility for S&P/TSX Composite options - rising 22.68% to 18.50.
Commodities reflected the downbeat tone. Gold Futures for April delivery fell 3.10% - a drop of 158.09 - to $4,940.41 a troy ounce. In energy markets, crude oil for March delivery slipped 2.63% or $1.70 to $62.93 a barrel, while the April Brent contract retreated 2.59% or $1.80 to $67.60 a barrel.
Currency moves were modest. The Canadian dollar versus the U.S. dollar was effectively unchanged, listed at 0.73 with a move of 0.26%. The CAD/EUR rate was reported unchanged at 0.62, with a 0.27% change. The US Dollar Index Futures was up 0.10% at 96.82.
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