(RTTNews) - The Canadian market extended its losing streak on Tuesday although the downside was just marginal thanks to investors picking up several stocks from technology, healthcare and real estate sectors.
The market digested the nation's consumer price inflation data and looked ahead to the U.S. Federal Reserve's monetary policy announcement on Wednesday.
The benchmark S&P/TSX Composite Index ended with a marginal oss of 27.50 points or 0.11% at 25,119.71, recovering gradually from an early low of 25,008.08.
Data from Statistics Canada said the annual inflation rate in Canada was at 1.9% in November, easing from 2% in the previous month. Canada's CPI decreased 0% in November over the previous month.
The annual core inflation rate in Canada eased to 1.6% in November, from 1.7% in the prior month. On a monthly basis, core consumer prices fell by 0.1% in November, after a 0.4% increase in the prior month.
Meanwhile, new home prices in Canada increased by 0.2% over a year in November, rebounding from 0.2% drop in the previous month.
Air Canada (AC.TO) tanked nearly 9.5%. Air Canada said today that it expects operating revenues of about C$22 billion for the full year, up from C$21.833 billion reported in the previous year. Adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization is expected to be nearly C$3.5 billion compared with C$3.982 billion a year ago.
VersaBank (VBNK.TO) closed down 8.8%. Dye & Durham (DND.TO) plunged 7%, while Bombardier Inc (BBD.B.TO) shed 5%. ATCO (ACO.Y.TO), Propel Holdings (PRL.TO), Open Text Corporation (OTEX.TO), Cogeco Communications (CCA.TO), George Weston (WN.TO), Keyera Corp (KEY.TO), GFL Environmental (GFL.TO), Metro Inc (MRU.TO), Cogeco Inc (CGO.TO) and Loblaw Companies (L.TO) lost 1.4 to 4%.
CGI Group, Inc. (GIB.A.TO) and SkyAlyne, a provider of military pilot and aircrew training in Canada, announced Tuesday the signing of a 25-year agreement for Canada's future aircrew training program. The CGI stock edged down marginally.
Telesat Corporation (TSAT.TO) soared 9.2%. Bausch + Lomb Corporation (BLCO.TO), Aura Minerals (ORA.TO), TransAlta Corporation (TA.TO) and Shopify Inc (SHOP.TO) gained 3.2 to 4.5%.
Hut 8 Corp (HUT.TO), AtkinsRealis (ATRL.TO), Methanex Corporation (MX.TO), BRP Inc (DOO.TO), Lightspeed Commerce (LSPD.TO), Badger Infrastructure (BDGI.TO), Enghouse Systems (ENGH.TO) climbed 1.8 to 3%.
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