The Financial Post reports in its Friday edition that capping their best quarter since 2009, Canadian stocks have made a remarkable comeback as the nation went from a full shutdown to a gradual reopening amid the COVID-19 pandemic. A Bloomberg dispatch to the Post says that while some corners of the market participated in the recovery, many were destroyed. The S&P/TSX Composite Index amassed $297-billion of value in the second quarter after a brutal sell-off in March with historically volatile peaks. A slowdown in virus cases and pro-active stimulus measures from governments and central banks have helped boost investor sentiment, but the benchmark is still down 10 per cent this year, with eight out of 11 sectors in the red. RBC warns in a report that "uncertainty remains regarding the ultimate impact of reduced government support later in the year." Cineplex was one of the most badly hit on the Toronto Stock Exchange, down 76 per cent, crowning it the worst performer on the exchange after reporting a first-quarter profit slump. The movie theatre company experienced closures brought on by the pandemic, and took an added hit after Cineworld Group PLC backed out of its deal to buy the company earlier this month.
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