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March 27, 2020, 12:13 p.m. EDT

Virus Crisis Deepens, TSX to Halt 3-Day Win Streak

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Mar 27, 2020 (Baystreet.ca via COMTEX) -- Equities in Toronto looked set to snap a three-day winning streak on Friday as concerns over the rapid spread of the coronavirus outweighed optimism around a stimulus package, while a decline in oil prices dragged energy stocks lower.

The TSX Composite Index ailed 444.62 points, or 3.3%, to approach noon EDT Friday at 12,926.55

The Canadian dollar gave back 0.24 cents at 70.99 cents U.S.

The largest percentage gainers on the TSX were shares of cannabis producers Aurora Cannabis, which jumped 17 cents, or 13.1%, to $1.43, followed by Hexo Corp, which rose 17 cents, or 11.2%, to $1.64.

Among other firms, Lululemon Athletica beat analysts' estimates for quarterly results on Thursday, lifted by strong holiday season demand, but the athletic apparel maker did not give a full-year forecast as the coronavirus fuels uncertainty.

In New York, Lululemon shares dumped $10.01, or 5%, to $190.79.

Chorus Aviation fell 45 cents, or 11.5%, to $3.45, while Freehold Royalties, slipped 28 cents, or 9.8%, to $2.59.

On the economic front, Statistics Canada reported that the average weekly earnings of non-farm payroll employees were $1,051 in January, up 0.6% from the previous month.

Year over year, earnings rose 4.0%. Non-farm payroll employees worked an average of 33.0 hours per week in January, up from both the previous month (32.8 hours) and January 2019 (32.6 hours).


The TSX Venture Exchange dumped 7.47 points, or 1.9%, to 390.96.

All but two of the 12 TSX subgroups moved lower, with energy down 8.1%, information technology subsiding 5%, and consumer discretionary slumping 4.8%.

The two stalwarts proved to be health-care, up 0.6%, and real-estate, inching up 0.1%.


Stocks fell sharply on Friday, giving back some of the strong gains experienced in the previous three days to cap off another volatile week on Wall Street.

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