After posting a fresh all-time high in the previous session, Canadian stocks turned lower on Tuesday as investors took some profits off the table and assessed the latest quarterly bank earnings reports. The S&P/TSX Composite Index fell by 89 points, or 0.4%, yesterday to settle at 23,260. Nevertheless, the market benchmark is still trading solid year-to-date gains of 11%.
Despite continued gains in real estate stocks, heavy losses in other key sectors, including healthcare, energy, and mining, pressured the TSX index.
Top TSX Composite movers and active stocks
Bank of Montreal (TSX:BMO) was the worst-performing TSX stock for the day as it tanked by 6.5% to $112.04 per share. This selloff in BMO stock came after the Toronto-headquartered lender announced its worse-than-expected quarterly financial results.
In the quarter ended in July 2024, Bank of Montreal’s total revenue rose 1.7% year over year to $8.2 billion. However, its…
