A five-session winning streak in the Canadian equities market came to an end on Wednesday as weaker-than-expected domestic retail sales data and mixed corporate earnings made investors nervous about the economic outlook, leading to a spike in Canada’s 10-year treasury bond yields. The S&P/TSX Composite Index slipped by 138 points, or 0.6%, to settle at 21,874 — trimming its week-to-date gains to 0.3%.
Although some sectors, like consumer noncyclicals and mining, witnessed minor gains, a selloff in industrial and technology stocks weighed on the TSX benchmark.
Top TSX Composite movers and active stocks
Canadian Pacific Kansas City (TSX:CP) plunged by more than 6% to $112.23 per share after announcing its slightly weaker-than-expected first-quarter earnings. In the March quarter, the railway giant’s total revenue jumped by 55.3% YoY (year over year) to $3.5 billion.
However, Canadian Pacific’s adjusted quarterly earnings…
