Canadian Stocks Are on Their Worst Streak in 11 Months

(Bloomberg) -- Canadian stocks played catch up with a global rout following Monday's holiday, with the nation's benchmark falling the most this year before paring losses.

The S&P/TSX Composite Index fell 0.8% on Tuesday, extending its slump for a sixth straight session -- its longest losing streak since Sept. 10. Energy stocks were the biggest decliners on the benchmark as the price of oil continued to slide despite China's move to stabilize the yuan. Gold miners soared following the precious metal's rise to near $1,500 per ounce on Monday.

Consumer discretionary and financials also fell. Materials and health care stocks led to the upside.

Separately, troubled construction firm SNC-Lavalin Group Inc. plunged 8.1% to a 15-year low after company's top shareholder Caisse de Depot et Placement du Quebec said Monday SNC must build a culture of execution and take a “major step up in discipline” to implement new strategy.

In other moves:

Stocks

• Gold miners: Eldorado Gold gained 5.6%, Yamana Gold jumped 9%
• Aurora Cannabis rose 8.2% after saying it's on track for positive adj. Ebitda
• Just Energy Group plunged 10.5% after CEO change amid strategic review
• Peyto Exploration & Development dropped 6.2%
• Gran Tierra Energy fell 5.4%

Commodities

• Western Canada Select crude oil traded at a $12.85 discount to WTI
• Spot gold rose 0.6% to $1,485.70 an ounce

FX/Bonds

• The Canadian dollar retreated 0.5% to C$1.3275 per U.S. dollar
• The Canada 10-year government bond yield fell to to 1.23%

To contact the reporter on this story: Carolina Wilson in New York City at cwilson166@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Morwenna Coniam

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