Canadian stocks continued to trade on a weak note for the third consecutive session despite a minor recovery in commodity prices, as significantly weaker-than-expected U.S. non-farm employment figures made investors worried about the near-term economic outlook. As a result, the S&P/TSX Composite Index slipped by 52 points, or 0.2%, to settle at 22,988.
Even though mining and utility stocks showed strength, heavy losses in other key market sectors, including consumer cyclicals and industrials, weighed on the TSX benchmark, extending its week-to-date losses to 1.5%.
Top TSX Composite movers and active stocks
First Majestic Silver (TSX:AG) dived by more than 8% to $6.56 per share, making it the worst-performing TSX stock for the day. This selloff in AG stock came after the Vancouver-based precious metals miner revealed its intentions to acquire Gatos Silver in a deal valued at around $970 million.
According to their merger agreement,…
