TSX Ends Modestly Lower

(RTTNews) - The Canadian market ended weak on Wednesday, weighed down by losses in materials and technology sectors. Investors digested earnings updates from Canadian and U.S. companies, and awaited U.S. non-farm payroll data and Canadian GDP report, due later in the week.

The benchmark S&P/TSX Composite Index ended down 54.76 points or 0.22% at 24,507.79 after scaling a low of 24,428.10 and a high of 24,571.26 intraday.

Materials stock Ivanhoe Mines (IVN.TO) ended down 3.85%. The company reported a net profit of $108 million for the third-quarter of 2024, compared with $67 million in the second-quarter. The stock is down by about 3.7%.

Fortuna Silver Mines (FVI.TO), Seabridge Gold (SEA.TO), First Majestic Silver Corp (AG.TO), Pan American Silver Corp (PAAS.TO) and Hudbay Minerals (HBM.TO) closed down 2.5 to 4%.

Technology stocks Bitfarms (BITF.TO) and BlackBerry (BB.TO) lost 4.49% and 3.56%, respectively. CGI Group (GIB.A.TO), Converge Technology Solutions (CTS.TO) and Sangoma Technologies (STC.TO) closed down 1.25 to 1.6%.

Secure Energy Services (SES.TO) soared nearly 10% after reporting a net income of $94 million for the third-quarter this year, compared with $47 million in the year-ago quarter.

Capital Power Corporation (CPX.TO) climbed 7.8% after the company reported net income of $178 million for the quarter ended September 30, 2024, compared with $272 million in the year-ago quarter.

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