Weak Technology, Industrials Stocks Hurt TSX

(RTTNews) - The Canadian market is showing weakness on Thursday, as losses in technology, healthcare and industrials sectors outweigh gains in communications and materials stocks.

Some disappointing earnings updates, and lingering concerns about growth due to tariffs contribute as well to market's weakness.

The benchmark S&P/TSX Composite Index was down 225.52 points or 0.76% at 29,877.96 a little while ago.

The Information Technology Capped Index is down 3.4%. Dye & Durham, Bitfarms, CGI Group and Constellation Software are down 5 to 6.4%.

Open Text Corporation, Shopify Inc, Sylogist, Celestica, Docebo, BlackBerry and Descartes Systems Group are also down sharply.

Healthcare stock Curaleaf Holdings is plunging more than 9%. Bausch Health Companies is down 1.1%.

In the industrials sector, Russel Metals, Bird Construction and Mda Ltd., are down 5.5 to 6.1%. WSP Global is down 4.2%, while Ats Corp., Thomson Reuters, Atkins Realis Group, Brookfield Business Partners and Tfi International are also down sharply.

Energy stocks Vermilion Energy and Enerflex are up 8% and 5.6%, respectively. Imperial Oil, Nuvista Energy, Suncor Energy, Topaz Energy and Cenovus Energy are gaining 1 to 1.5%.

Canadian Natural Resources Limited is down 1.6%. The company reported net profit of $600 million or $0.29 a share compared to $2,266 million or $1.06 a share in the previous year.

BCE Inc. is gaining nearly 3% after reporting earnings per share of $0.79 for the third quarter, compared to $0.75 in the year-ago quarter.

Lightspeed Commerce Inc. shares are soaring 13% after the company reported its net loss narrowed in the second quarter of fiscal 2026 compared with the previous year. For the second quarter of 2026, net loss narrowed to $32.70 million from $29.66 million in the prior year.

Bombardier Inc (BBD.B.TO)'s earnings per share came in at $1.21 for the third quarter, less than an estimated $1.42, but higher than $0.74 in the year-ago quarter. The stock is hovering around its previous closing level.

Labrador Iron Ore is declining 1.4% on lower earnings. The company reported an EPS of $0.47 in the third quarter, down compared to $0.53 a year ago.

Canadian Tire Corporation is up in positive territory. The company reported earnings per share of $3.78 for the third quarter, up from $3.59 a share in the corresponding quarter last year.

On the economic front, a report from Ivey Business School said Canada's Ivey Purchasing Managers Index fell to 52.4 in October from 59.8 in September, missing expectations of 55.2. The reading marks the sixth month above the 50-point threshold, indicating overall expansion in activity.