TSX Falls Friday, Surges on Week



Equities in Canada’s largest centre suffered some knocks at week’s end, as investors likely took their profits from the win streak that preceded Friday.

The TSX Composite dumped 108.45 points to close Friday at 21,984.08. On the week, however, the index prospered 135 points, or 0.6%.

The Canadian dollar handed back 0.45 cents to 73.47 cents U.S.

Communications stocks placed the heaviest weight on the index, with TELUS Corp. dropping 58 cents, or 2.6%, to $21.74, while Quebecor plummeted 61 cents, or 2%, to $30.08.

In real-estate, InterRent REIT units spilled 46 cents, or 3.2%, to $13.75, while Killam Apartment REIT units subtracted 56 cents, or 2.9%, to $18.73.

Among consumer discretionary stocks, Canada Goose Holdings were grounded 45 cents, or 2.7%, to $16.24, while Dollarama swooned $2.47, or 2.4%, to $101.42.

Health-care concerns did their best to pull the index upward, primarily Tilray Inc. up 49 cents, or 18.6%, to $3.12, while Bausch Health Companies forged ahead seven cents to $12.89.

Consumer staples had a kick in them, with Loblaw Companies surging $2.31, or 1.5%, to $152.65, while George Weston grabbed $1.68 to $184.88.

In the industrial sector, Badger Infrastructure Solutions climbed $1.13, or 2.3%, to $50.19, while CAE Inc. moved skyward 44 cents, or 1.6%, to $27.61.

On the economic slate, Statistics Canada says retail trade in January decreased 0.3% to $67.0 billion. Sales were down in three of nine subsectors and were led by decreases at motor vehicle and parts dealers, while new housing prices edged up 0.1% month over month in February.

ON BAYSTREET

The TSX Venture Exchange was in the minus column on the day, 0.86 points to 552.31, but remained green on the week 1.4 points, or 0.26%. .

Eight of the 12 TSX subgroups were lower on the day, as communications dipped 1.7%, while real-estate and consumer discretionary each fell 1.2%.

The four gainers were led by health-care, ballooning 4.6%, while consumer staples poked ahead 0.3%, and industrials nosed up 0.1%.

ON WALLSTREET

The Dow Jones Industrial Average slipped on Friday, but clinched its best week of the year after back-to-back record-setting sessions.

The 30-stock index withered 305.47 points to 39,495.90.

The S&P 500 index staggered 7.35 points to 5,234.18.

The NASDAQ gained 26.98 points to 16,428.82.

All three major averages notched healthy gains this week, with the S&P 500 rising about 2.3%. The Dow was up just shy of 2% and registered its best week since December. The NASDAQ is the outperformer of the three, jumping nearly 2.9%.

FedEx rose more than 7% after posting adjusted earnings that beat analyst estimates, while Nike sank 6.9% on disappointing guidance and slowing China sales. Lululemon slid 15.8% on weak guidance and slowing growth in North America, and headed for its worst day since March 2020.

Prices for the 10-year Treasury were higher, lowering yields to 4.21% at Thursday’s 4.27%.

Oil prices lost 26 cents to $80.81 U.S. a barrel.

Gold prices sank $19.80 to $2,165.00.



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