July 18, 2024

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TSX Ends Slightly Down After Another Lackluster Session

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The Canadian market ended marginally down on Friday, with stocks once again largely subdued as investors were reluctant to make significant moves due to a lack of triggers.

The benchmark S&P/TSX Composite Index ended down 13.55 points or 0.07% at 20,103.11, after moving in a very narrow range between 20,070.49 and 20,156.72. The index shed 0.36% in the week.

Precision Drilling Corporation (PD.TO) climbed 2.5%. Canadian Tire Corporation (CTC.TO), Cargojet (CJT.TO), Morguard Corporation (MRC.TO) and RB Global Inc (RBA.TO) gained 1 to 1.5%.

Docebo Inc (DCBO.TO) drifted down 2%. Restaurant Brands International (QSR.TO) and Fairfax Financial Holdings (FFH.TO) ended lower by 1.4% and 1%, respectively.

On the economic front, data from Statistics Canada showed retail sales in Canada jumped by 0.6% in September from the previous month. Retail sales rose by 2.7% from a year ago in September, the biggest increase in five months.

Retail sales excluding autos in Canada were up 0.2% month-over-month in September, the same as an upwardly revised 0.2% gain in August.

Canada’s manufacturing sales likely fell by 2.7% from a month earlier in October, following a 0.4% gain in September, according to preliminary data.

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2023-11-24 16:58:08

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