Market close overview
Canada's main stock index ended the session in negative territory on Wednesday. At the Toronto close, the S&P/TSX Composite was down 0.79% as losses concentrated in Materials, Real Estate and Industrials pressured the overall market.
Top performers
- goeasy Ltd (TSX:GSY) advanced 5.74% - adding 1.82 points to finish at 33.51.
- Strathcona Resources Ltd (TSX:SCR) rose 5.73% - gaining 2.22 points to close at 40.93.
- Parex Resources Inc (TSX:PXT) increased 5.33% - up 1.46 points to end the day at 28.84.
Largest declines
- CGI Inc (TSX:GIBa) posted the session's steepest drop, falling 10.79% or 10.86 points to close at 89.78.
- Capital Power Corporation (TSX:CPX) declined 7.59% - down 5.12 points to 62.37 at the close.
- FirstService Corp (TSX:FSV) slipped 6.33% - losing 12.40 points to finish at 183.50.
Breadth and notable levels
Losers outnumbered winners on the Toronto Stock Exchange by 573 to 383, while 75 stocks finished unchanged. During the session, shares of CGI Inc (TSX:GIBa) fell to 5-year lows at 89.78. Parex Resources Inc (TSX:PXT) reached 52-week highs at 28.84. FirstService Corp (TSX:FSV) declined to 3-year lows, closing at 183.50.
Volatility and broader market indicators
The S&P/TSX 60 VIX, a gauge of implied volatility for S&P/TSX Composite options, eased 2.32% to 17.29.
Commodities and currencies
Commodity markets showed divergent moves. Gold futures for June delivery dropped 1.10% - down 50.90 to $4,557.50 a troy ounce. By contrast, crude oil for June delivery climbed 8.00% or 7.99 to reach $107.92 a barrel, while the July Brent contract rose 6.65% or 6.94 to trade at $111.34 a barrel.
On the currency front, CAD/USD was unchanged 0.00% to 0.73, while CAD/EUR unchanged 0.35% to 0.63. The US Dollar Index Futures advanced 0.33% to 98.81.
Bottom line
The close reflected widening sector weakness led by Materials, Real Estate and Industrials, even as select energy and consumer finance names posted gains. Market volatility as measured by the S&P/TSX 60 VIX moved lower while commodity prices diverged, with oil rising and gold easing.