Canadian Stocks Fall Third Day as Concordia Weighs on Drugmakers
- Raw-material producers rise for the first time in three days
- Concordia tumbles after earnings fall short of estimates
This article is for subscribers only.
Canadian stocks retreated for a third day, as disappointing earnings from Concordia Healthcare Corp. dragged drugmakers lower and financial shares slumped.
The Standard & Poor’s/TSX Composite Index fell 0.2 percent to 13,358.11 at 4 p.m. in Toronto. The benchmark gauge has lost 1 percent in the holiday-shortened week, capping the longest streak of losses since Feb. 11. The index remains one of the top performers among developed markets this year with a gain of 2.7 percent.