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CANADA STOCKS-Toronto market dips as investors weigh supply chain headwinds

* TSX ends down 77.00 points, or 0.4%, at 21,170.01

* Energy group falls 1.6%; materials end 1.4% lower

* Bausch Health declines 9.3% after Q3 results

* Air Canada climbs 4.4%

TORONTO, Nov 2 (Reuters) - Canada’s main stock index fell on Tuesday as investors weighed prospects of weaker economic growth and ahead of an expected move by the U.S. Federal Reserve to cut economic stimulus, with resource and healthcare stocks leading the declines.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 77.00 points, or 0.4%, at 21,170.01. It notched last week a record closing high of 21,284.84.

“I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in,” said Philip Petursson, chief investment strategist at IG Wealth Management.

“We’re due for a little bit of a pause because the next stage in terms of the recovery and the reopening will show weaker earnings and some headwinds from the supply chain and just slower growth.”

A preliminary estimate last Friday showed Canadian third-quarter GDP increasing at an annualized rate of 1.9%, much less than the Bank of Canada forecast at last week’s policy announcement.

Investors were looking ahead to the outcome of the Fed’s two-day meeting on Wednesday. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic.

The energy sector fell 1.6%, retreating from a 30-month high on weakness in crude prices, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 1.4%.

Bausch Health Cos Inc was among the leading decliners. Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. The healthcare sector ended 3.5% lower.

Shares of Air Canada rose 4.4% after the company reported better-than-expected quarterly revenue. Canada’s decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country’s largest carrier. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Marguerita Choy)