Canada's equity market finished the session in negative territory, with the S&P/TSX Composite retreating 1.53% at the close in Toronto as losses in the Materials, IT and Healthcare sectors weighed on the index.
Market internals were skewed toward declines. On the Toronto Stock Exchange, 755 stocks fell versus 227 that advanced, while 51 issues were unchanged.
Top and bottom movers
Among the better performers on the S&P/TSX Composite, BRP Inc (TSX:DOO) rose 3.97% - gaining 3.55 points to finish at 93.08. Thomson Reuters Corp (TSX:TRI) added 3.71%, up 4.49 points to close at 125.36, and Strathcona Resources Ltd (TSX:SCR) increased 3.39%, or 1.27 points, to end at 38.74.
At the other end of the tape, Celestica Inc. (TSX:CLS) recorded the steepest decline, dropping 9.35% or 39.03 points to finish at 378.58. Americas Silver Corp (TSX:USA) fell 9.15% - down 0.74 points to 7.35 - and AbraSilver Resource Corp (TSX:ABRA) slid 8.83%, losing 1.02 points to close at 10.53.
Volatility and broader indicators
The S&P/TSX 60 VIX, a gauge of implied volatility for S&P/TSX Composite options, rose 10.72% to 21.27, signaling a pickup in option-implied market uncertainty.
Commodities and currencies
Precious and energy commodities moved in opposite directions. Gold Futures for June delivery was down 3.41% or 156.40 to $4,429.10 a troy ounce. Crude oil for May delivery climbed 3.12% - up 2.82 - to $93.14 a barrel, while the June Brent contract increased 3.36% or 3.27 to trade at $100.53 a barrel.
In foreign exchange, CAD/USD was unchanged 0.34% to 0.72, and CAD/EUR was unchanged 0.10% to 0.63. The US Dollar Index Futures advanced 0.30% to 99.69.
Context and implications
The session's losses were concentrated in Materials, Information Technology and Healthcare, and overall market breadth favored decliners by a wide margin. At the same time, option-implied volatility posted a notable gain. Commodity moves were mixed, with a sharp decline in June gold futures and a simultaneous rally in both WTI crude for May and Brent for June.
These factors combined to produce a broadly negative finish for the Canadian market on the day.