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TORONTO, March 14 (Xinhua) -- Canada's main stock market in Toronto fell to its lowest point since Dec. 30 on Tuesday, as declines in Health Care, Materials and Energy stocks had the biggest impact.
The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite slipped 165.21 points, or 1.06 percent to finish the session at 15,379.61 points. Nine of the ten sub-groups lost ground on the day.
Health Care and Materials groups were hit the hardest on the day, slipping 2.44 percent and 2.41 percent, respectively.
The TSX Health Care group was dragged down by Quebec-based drugmaker firm Valeant Pharmaceuticals International Inc. after William Ackman, one of its largest shareholders of the firm with nearly 10 percent equity, sold all of his shares in the firm. Since investing in Valeant in 2015, Ackman and his hedge fund company saw the stock lose more than 95 percent of its valuation due to regulatory issues and will now realize a loss of more than 3 billion U.S. dollars.
As a result of the transaction, shares fell 9.99 percent to 14.59 Canadian dollars (10.82 U.S. dollars). Also losing ground within the group the group was ProMetic Life Sciences, fading 0.83 percent to 2.39 Canadian dollars (1.77 U.S. dollars).
The Materials group, which is comprised of producers of gold, precious metals, and raw materials, finished lower as the spot price of gold fell to a six-week low ahead as on the eve of the U.S. Federal Reserve' s interest rate decision. An ounce of bullion retreated 5.10 U.S. dollars to close at 1,198.60 dollars.
Gold miners B2Gold Corp. and IAMGOLD Corporation were hit the hardest, plunging 6.67 percent and 6.17 percent, respectively. Meanwhile, shares of Barrick Gold Corporation, the world' s largest producer of gold, dipped 2.24 percent to 23.99 Canadian dollars (17.79 U.S. dollars).
Consumer Staples and Energy groups also contributed to the day's end result, dropping 1.84 percent and 1.61 percent, apiece.
The TSX Consumer Staples group, which consists of companies in the food industry, was weighed down by convenient store franchise Alimentation Couche-Tard Inc. posting worse than expected third quarter earnings. Shares of the Quebec-based company dipped 4.77 percent to 58.85 Canadian dollars (43.64 U.S. dollars). Also slipping were two of the country's largest supermarket chains, Metro Inc. and Loblaws Company Limited, who shares fall 0.84 percent and 1.14 percent, each.
Energy stocks slipped as the prices of crude oil and natural gas both declined. Brent crude oil for May delivery close the day 0.47 percent lower to 51.12 U.S. dollars a barrel, while April natural gas on the New York Mercantile Exchange dipped 3.44 percent to 2.938 U.S. dollars per million British thermal units.
Calgary-based energy firms Pengrowth Energy Corporation and Baytex Energy Corp. were slammed, falling 11.49 percent and 6.75 percent, respectively. Heavyweights Suncor Energy Inc. and Canadian Natural Resources Limited also saw shares retreated on Tuesday, dropping 0.99 percent and 1.33 percent, each.
The remaining laggard groups on the day were: Industrials (1.20 percent), Telecommunications (0.56 percent), Financials (0.44 percent), Utilities (0.38 percent), and Consumer Discretionary (0.30 percent).
The lone sector to finish ahead on the day was information technology, advancing 0.32 percent.
The Canadian dollar slipped 0.22 cents to close the day at 0.7416 U.S. dollars.
