Canadian Market Remains In Negative Territory After Weak Start
(RTTNews) - After opening notably lower and drifting further down, Canadian stocks have regained some lost ground thanks to selective buying at lower levels at a few frontline counters.
The mood remains quite cautious with investors awaiting key U.S. inflation data due on Wednesday. Weak Chinese trade data is weighing as well.
The benchmark S&P/TSX Composite Index, which dropped to 20,455.52 in early trades, losing about 130 points, is down 41.74 points or 0.19% at 20,543.41 about half an hour past noon.
Osisko Mining (OSK.TO), Baytex Energy (BTE.TO), Hudbay Minerals (HBM.TO) and Bank of Nova Scotia (BNS.TO) are down 2.6 to 4.6% on huge volumes.
Shopify Inc (SHOP.TO), Hut 8 Mining (HUT.TO), Suncor Energy (SU.TO), Toronto-Dominion Bank (TD.TO) and Athabasca Oil Corporation (ATH.TO) are down 1 to 2%.
Teck Resources (TECK.B.TO) is surging 5.5%. Air Canada (AC.TO) is climbing about 1.5%. Cenovus Energy (CVE.TO) and Tourmaline Oil Corp (TOU.TO) are gaining 0.9% and 0.6%, respectively.
SNC-Lavalin Group (SNC.TO) is soaring more than 10% on strong results. The company reported first-quarter net income of 28.4 million, or $0.16 per share, compared to $24.8 million, or $0.14 per share in the first quarter of 2022.
Keyera Corporation (KEY.TO) shares are up nearly 4% after the company reported first-quarter net earnings of $138 million, compared with $114 million in the year-ago quarter.
George Weston Limited (WN.TO) reported adjusted net earnings of $282 million for the first quarter of 2023, flat compared to the same period in 2022. The stock is up marginally.
Swiss Franc Advances Against Majors
European Stocks Close On Mixed Note
Euro Falls Amid Political Uncertainty
Bay Street Likely To Open On Positive Note
European Stocks Turning In Mixed Performance
FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower
CAC 40 Advances After Recent Losses
