TSX Drops Further

Secure Energy Dwindles

Canada's main stock index slightly extended declines on Tuesday, a day after it recorded its worst session in six months on widespread concerns over the coronavirus outbreak.

The TSX Composite Index let go of another 149.53 points to 17,413.21.

The Canadian dollar remained unchanged at 75.25 cents U.S.

Secure Energy Services Inc fell 58 cents, or 13%, the most on the TSX, to $3.88, after it logged a drop in its quarterly revenue. The second biggest decliner was Enerflex, down 55 cents, or 6.9%, to $7.37, after CIBC cut the stock's target price.

The largest percentage gainers on the TSX were Bombardier B, which jumped 2.5 cents, or 2.1%, to $1.24, and Ballard Power, which rose 23 cents, or 1.6%, to $15.02.

Bank of Montreal and Bank of Nova Scotia, two of Canada’s biggest banks, beat analyst estimates for profit on Tuesday. BMO descended $1.22, or 1.2%, to $98.25, while Scotiabank doffed 19 cents to $72.96.


The TSX Venture Exchange fell 6.08 points to 561.71

All but two of the 12 TSX subgroups were lower by noon hour, with, health-care and information technology slumping 2% each, while energy sank 1.8%.

The two gainers were real-estate, nicking up 0.1%, and consumer staples, eking up 0.03%.


Stocks continued their rout on Tuesday as diving bond yields raised more concern that the global economy is slowing significantly because of the spreading coronavirus. The 10-year Treasury yield hit a record low as the Dow Jones Industrial Average added to Monday’s 1,000-point drop.

The 30-stock index surrendered earlier gains and had plunged 256.93 points by midday to 27,703.87.

The S&P 500 fell 27.37 points to 3,198.52.

The NASDAQ tumbled 61.25 points to 9,160.03.

These declines put the Dow and S&P 500 more than 6% below the record highs reached earlier this month. The NASDAQ is trading 7.5% below its all-time high from Feb. 19.

Mastercard warned about the potential impact the coronavirus will have on 2020 results, sending their shares down more than 3%.

Investors fled stocks on Monday as a surge in coronavirus cases outside of China intensified fears of a prolonged global economic slowdown.

The Dow sank more than 1,000 points, suffering its biggest point and percentage drop since February 2018. The S&P 500 plunged 3.3%, also the worst drop in two years. With Monday’s declines, the S&P 500 and the Dow both wiped out all of their 2020 gains.

South Korea raised its coronavirus alert to the "highest level," with the latest spike in numbers bringing the total infected to more than 800. Meanwhile, Italy has been the worst affected country outside of Asia, with more than 130 reported cases and seven deaths. Iran also confirmed 12 deaths.

Prices for the 10-Year U.S. Treasury gained, lowering yields to 1.34% from Monday’s 1.37%. Treasury prices and yields move in opposite directions.

Oil prices dropped 96 cents to $50.47 U.S. a barrel.

Gold prices dumped $27.40 to $1,649.20 U.S. an ounce.