The Canadian market is firmly down in negative territory on growth concerns

(RTTNews) – The Canadian market fell firmly into negative territory on Wednesday afternoon amid concerns over the global economic slowdown after the World Bank and the Organization for Economic Co-operation and Development (OECD) lowered their forecasts. of global growth.

Investors are also eagerly awaiting the European Central Bank’s monetary policy announcement, due Thursday, and US inflation data, due Friday.

Healthcare, communications and industrials stocks were among the big losers. Several stocks in the materials and financials sectors are also down sharply. Consumer Discretionary and Energy stocks are finding modest support.

The benchmark S&P/TSX Composite Index is down 190.33 points or 0.91 at 20,737.88.

Enghouse Systems (ENGH.TO) plunged 17.6%. The company said it posted a net profit of $17.9 million in the second quarter of this year, compared to $20.7 million in the year-ago quarter.

Sierra Wireless (SW.TO), TFI International (TFII.TO), GFL Environmental Inc (GFL.TO), Rogers Communications (RCI.A.TO), Boyd Group Services (BYD.TO), Cargojet Inc (CJT.TO ), BRP Inc (DOO.TO) and Canadian Pacific Railway (CP.TO) are down 2% to 5.6%.

Constellation Software (CSU.TO), Bank of Montreal (BMO.TO), Royal Bank of Canada (RY.TO), Canadian National Railways (CNR.TO) and Colliers International (CIGI.TO) are also significantly lower .

Dollarama Inc (DOL.TO) climbs 4.5%. The company reported first quarter net income of $145.5 million, or $0.49 per diluted common share, compared to $113.6 million, or $0.37 per diluted common share, in the first quarter of the previous year.

Boralex Inc (BLX.TO) gained 3.2%, Shopify Inc (SHOP.TO) gained 2.75%, Suncor Energy (SU.TO) gained 1.5%, Linamar Corporation (LNR.TO) gained 1.3% and Fairfax Financial Holdings (FFH.TO) rose 1%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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