Canadian Market Modestly Higher At Noon; Energy Stocks Fall
(RTTNews) - Canadian stocks are turning in a mixed performance on Wednesday with investors continuing to assess the likely policy moves by central banks, and reacting to the trend in commodities markets.
Energy stocks are down on reports the OPEC has postponed its meeting to November 30th. Consumer staples and real estate stocks are finding support, while shares from the rest of the sectors are mixed.
The benchmark S&P/TSX Composite Index is up 50.97 points or 0.25% at 20,160.95 at noon.
The Energy Capped Index is down nearly 3%. Cenovus Energy (CVE.TO), Pason Systems (PSI.TO), Baytex Energy (BTE.TO), Athabasca Oil Corporation (ATH.TO), Precision Drilling (PD.TO), MEG Energy (MEG.TO), Parex Resources (PXT.TO), Imperial Oil (IMO.TO) and Candian Natural Resources (CNQ.TO) are down 2 to 3.4%.
Consumer staples stock Weston George (WN.TO), which fell sharply on Tuesday on lower earnings, has rebounded today, gaining about 5.5%. Metro Inc (MRU.TO), Loblaw Co (L.TO), Empire Company (EMP.A.TO) and Maple Leaf Foods (MFI.TO) are up 2 to 3%.
In the real estate sector, Colliers International (CIGI.TO), Trico Capital Group (TCN.TO), Storagevault Canada (SVI.TO), Crombie Real Estate (CRR.UN.TO) and CT Real Estate Investment (CRT.UN.TO) are gaining 1.3 to 2%.
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