(RTTNews) - After hitting a record high, the Canadian market retreated and ended on a weak note on Thursday, as traders chose to trim down positions ahead of crucial Canadian and U.S. jobs data.
Healthcare, consumer staples and technology stocks ended weak. Consumer discretionary and energy stocks were among the prominent gainers in the session.
The benchmark S&P/TSX Composite Index, which climbed to 22,239.05, fell to 22,00.98 before finally settling at 220,051.79, recording a loss of 60.67 points or 0.27%.
Stelco Holdings (STLC.TO) ended down by 4.7%. George Weston (WN.TO), BRP Inc (DOO.TO), Cameco Corporation (CCO.TO), Restaurant Brands International (QSR.TO), FirstService Corporation (FSV.TO), Cargojet (CJT.TO) and Kinaxis Inc (KXS.TO) settled lower by 2 to 3.5%.
Loblaw Companies (L.TO), Constellation Software (CSU.TO) and Canadian National Railway (CNR.TO) also ended notably lower.
Dollarama Inc (DOL.TO) soared 10%. The company reported net earnings of $323 .8 million, or $1.15 per diluted common share, for the fourth quarter of fiscal 2024, compared to $261 .3 million, or $0.91 per diluted common share, in the fourth quarter of fiscal 2023.
Lundin Mining Corporation (LUN.TO) rallied 5.8%. Bombardier Inc (BBD.B.TO) gained 3.3%. Methanex Corporation (MX.TO), WSP Global (WSP.TO), Fairfax Financial Holdings (FFH.TO) and Canadian Natural Resources (CNQ.TO) ended higher by 1 to 1.7%.
On the economic front, data from Statistics Canada showed Canada posted a trade surplus of C$ 1.4 billion in February 2024, more than a revised C$ 0.6 billion surplus in January.
Exports jumped by 5.8% over a month to C$ 66.6 billion in February, while imports rose by 4.6% to C$ 65.2 billion.
