TSX Finishes Negative on Health-Care Weakness

Jobs Reports on Tap for Friday

Equities in Canada’s largest centre were below par Thursday, owing largely to weakness in health-care and tech concerns.

The TSX remained negative 19.76 points to close Thursday at 19,290.98

The Canadian dollar gained 0.71 cents to 82.22 cents U.S.

Trillium Pharmaceuticals led health-care issues lower, parting with $1.01, or 8.3%, to $11.23, while Canopy Growth dipped $1.79, or 5.7%, to $29.50.

Among tech plays, Lightspeed POS slid $4.70, or 6%, to $74.48, while Hut 8 Mining let go of 48 cents, or 7.7%, to $5.72.

In the industrial sector, Ballard Power Systems dropped $1.01, or 5.3%, to $18.20, while Westport Fuel skidded 49 cents, or 6.2%, to $7.42.

Gold stocks tried to lift spirits, with Barrick Gold picking up $1.29, or 4.7%, to $28.59, while Kinross Gold jumped 31 cents, or 3.5%, to $9.,25.

In other resource stocks, Endeavour Silver tacked on 69 cents, or 10%, to $7.60, while SSR Mining grabbed $1.57, or 8%, to $21.28.

In energy, ARC Resources climbed 73 cents, or 8.9%, to $8.95, while Tourmaline Oil captured 46 cents, or 1.6%, to $28.62.


The TSX Venture Exchange turned lower 1.92 points to close Thursday at 943.77.

Seven of the 12 subgroups were higher on the day, led by gold, brightening 2.8%, materials, up 1.9%, and energy, better by 0.7%

The five laggards were weighed most by health-care, sliding 5.3%, information technology, docking 1.9%, and industrials, losing 0.6%.


U.S. stocks climbed on Thursday as investors awaited Friday’s highly anticipated jobs report to gauge the pace of the labour-market recovery.

The Dow Jones Industrials screamed higher 318.19 points to finish at another all-time record of 34,548.53. The Dow is on track to break a two-week losing streak.

The S&P 500 leaped 34.03 points to 4,201.62.

The NASDAQ Composite improved 50.42 points to 13,632.84, posting its fourth straight negative session on Wednesday for its longest daily losing streak since October. The tech-heavy index is lower for the week.

The muted action came despite a better-than-expected reading on jobless claims. First-time claims for unemployment insurance totaled 498,000 for the week ended March 1, hitting a fresh pandemic-era low and better than a Dow Jones estimate of 527,000.

The data came one day before April’s jobs report is released on Friday. Economists polled by Dow Jones expect a total of 978,000 payrolls to be added last month and the unemployment rate is expected to fall to 5.8% from 6%.

PayPal shares jumped 1.9% to lead tech names after the company posted better-than-expected earnings and said revenue last quarter surged 31%.

Etsy tanked by more than 14% after warning that sales will slow as the pandemic boost wanes.

The busiest week of earnings is now in the rearview mirror, but a number of companies have yet to provide their quarterly updates.
Dropbox, Expedia, Roku, Beyond Meat, Shake Shack and Square will report after the market closes.

Prices for 10-Year Treasurys gained ground, weighing yields to Wednesday’s 1.57%. Treasury prices and yields move in opposite directions.

Oil prices dipped 79 cents to $64.84 U.S. a barrel.

Gold prices popped $30.00 to $1,814.30 U.S. an ounce.