Canadian Shares Down In Negative Territory On Growth Worries

(RTTNews) - After opening with a big negative gap, the Canadian stock market staged a modest recovery and pared some losses Thursday morning, but the undertone remains weak due to rising concerns about surging virus cases, disappointing jobs data and lower commodity prices.

The benchmark S&P/TSX Composite Index, which tumbled to 16,289.95 in early trades, losing nearly 170 points in the process, is now down 98.87 points of 0.6% at 16,356.53.

Energy and healthcare shares are among the most prominent losers. Several stocks from materials and information technology sections are also notably lower. Financial and industrial shares are turning in a mixed performance.

The Capped Energy Index is down 2%. Cenovus Energy (CVE.TO), MEG Energy (MEG.TO), Vermilion Energy (VET.TO), Suncor Energy (SU.TO), Seven Generations Energy (VII.TO) and Enerplus Corp (ERF.TO) are losing 2 to 4%.

The Capped Healthcare Index is down more than 2.5%. Aphria Inc. (APHA.TO) is plunging nearly 16%. Aurora Cannabis (ACB.TO) is down 4.2%, Cronos Group (CRON.TO) is declining 2.8% and Canopy Growth Corp (WEED.TO) is losing about 2%.
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