(Bloomberg) -- The confluence of the coronavirus outbreak and a global oil price war roiled Canada’s stocks this quarter, wiping out about $750 billion in value. But while the financial devastation was widespread, some corners of the market stayed afloat.
The S&P/TSX Composite has plunged about 21% this year, on pace for its worst quarter since 2008, with about 10% of its stocks eking out gains and all sectors in the red.
Here’s a look at some who benefited -- and companies that have suffered, as of March 30.
- Shopify Inc.: The e-commerce company that helps merchants create an online presence has been able to generate sales despite the closing of physical stores.
- Real Matters Inc.: Tech stocks have provided a modicum of shelter due to their strong balance sheets and cash flow.
- Barrick Gold Corp.: The producer of the metal is benefiting as bullion heads for a sixth straight quarterly gain, the longest stretch since 2011.
- Innergex Renewable Energy: Independent power producers and utilities have continued to rise as investors pile cash into the sector amid lower interest rates.
- Cascades Inc.: The paper-products manufacturer has likely seen increased sales as people hoard toilet paper and other hygiene products.
- Metro Inc.: The grocery chain has surged as Canadians stock up on food, beverages and other products amid lockdowns and restaurant closures across the country.
- Kinaxis Inc.: The provider of supply-chain software may have seen additional sales as companies realized they are unable to quickly adapt to changing conditions with their existing solutions.
- Franco-Nevada Corp.: Lower fuel prices -- a key operating cost for miners -- is a “big positive” for the miners the company has financial stakes in.
- Oil & gas producers and services providers like Shawcor Ltd., Seven Generations Energy, Baytex Energy Corp. and Crescent Point Energy Corp. rounded out most of the top 10 losers. Oil is heading for the worst quarter ever as physical markets collapse amid a price war.
- Bombardier Inc.: Mired in a massive restructuring plan that will turn the company into a shadow of its former self, the transportation firm temporarily halted its Canadian operations and withdrew its financial outlook.
- Spin Master Corp.: The toy and children’s entertainment company pulled its 2020 outlook due to the impact of the Covid-19 pandemic. Spin Master will provide an update when it reports its first-quarter financials in May.
- Air Canada: The coronavirus crisis will lead to a capacity cut of as much as 90% next quarter and a temporary reduction of its workforce by about 16,500.
- Methanex Corp.: The chemicals provider dialed down its methanol production and reassessed capital spending amid a crash in the oil market.
- Inter Pipeline Ltd.: The company cut its 2020 capex by 50%, slashed its monthly dividend by 72% and suspended its dividend reinvestment plan.
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