Canada's main stock index ended the trading day in negative territory Thursday, with the S&P/TSX Composite finishing down 0.98% at the close in Toronto. Losses were concentrated in the Materials, Healthcare and Financials sectors, which collectively pressured the market lower.
Among individual stocks, Methanex Corporation (TSX:MX) led the winners, jumping 7.08% or 5.16 points to close at 78.00, a move that took the shares to five-year highs. Strathcona Resources Ltd (TSX:SCR) also posted gains, rising 5.65% or 1.75 points to finish at 32.73. Maple Leaf Foods Inc. (TSX:MFI) was up 5.59% or 1.50 points to close the session at 28.31.
In contrast, several miners were among the session's weakest performers. Capstone Mining Corp (TSX:CS) fell 9.65% or 1.23 points to end at 11.52. Ero Copper Corp (TSX:ERO) dropped 8.96% or 3.88 points to finish at 39.40, and First Quantum Minerals Ltd. (TSX:FM) declined 8.36% or 3.16 points to close at 34.62.
Market breadth showed more stocks falling than rising on the Toronto Stock Exchange, with 571 issues down versus 388 advancing and 80 ending unchanged.
Volatility on the Toronto benchmark rose notably. The S&P/TSX 60 VIX, which measures implied volatility for options tied to the S&P/TSX Composite, climbed 10.88% to 19.05, marking a new one-month high for the gauge.
Commodity markets were mixed during the session. Gold futures for April delivery lost 0.86% or 44.21 to trade at 5,090.49 a troy ounce. By contrast, crude oil for April delivery advanced 5.81% or 4.34 to reach 79.00 a barrel, while the May Brent contract gained 2.97% or 2.42 to trade at 83.82 a barrel.
Currency and U.S. dollar indicators were relatively steady. The Canadian dollar was little changed versus major currencies, with CAD/USD showing a 0.17% move to 0.73 and CAD/EUR shifting 0.07% to 0.63. The US Dollar Index Futures was up 0.31% at 99.04.
The session highlighted a divergence between pockets of strength in select industrial and consumer-oriented names and weakness among mining stocks, accompanied by a rise in implied volatility and uneven commodity price action.