Falling commodity prices, much weaker-than-expected U.S. retail sales numbers, and mixed corporate earnings pressured Canadian equities ahead of the Family Day long weekend. A day after climbing to its highest level in February, the S&P/TSX Composite Index dived by 215 points, or 0.8%, on Friday to settle at 25,483.
While financial and utility stocks saw renewed buying interest, losses in energy, materials, and consumer sectors weighed heavily on the broader market.
Top TSX Composite movers and active stocks
Shares of Seabridge Gold (TSX:SEA) tanked by 15.5% to $16 per share, making it the worst-performing TSX stock for the day. These losses in SEA stock came after the Toronto-based company announced a $100 million financing agreement.
Seabridge’s latest financing agreement consists of an $80 million bought-deal offering led by RBC Capital Markets and Cantor Fitzgerald and a $20 million private placement from a strategic…
