Canadian Market Down Marginally After Weak Start

(RTTNews) - The Canadian market is down in negative territory a little past noon on Monday, weighed down by losses in technology and real estate sectors. The mood is quite cautious with investors awaiting data on U.S. consumer price and producer prices data for more clues about the outlook for interest rates.

Materials shares are finding some support, while shares from other sectors are turning in a mixed performance in lackluster moves by investors.

The benchmark S&P/TSX Composite Index is down 16.81 points or 0.08% at 21,720.72 about a quarter past noon.

Technology stocks Bitfarms (BITF.TO) and Hut 8 Corp (HUT.TO) are down 10% and 7.4%, respectiveliy. Softchoice Corp (SFTC.TO) is down 5.2% and Celestica Inc (CLS.TO) is down 5%. Shopify Inc (SHOP.TO) and Lightspeed Commerce (LSPD.TO) are also notably lower.

Meanwhile, BlackBerry (BB.TO) is gaining more than 7.5% and Dye & Durham (DND.TO) is rising 3.5%, while Alithya Group (ALYA.TO) is advancing 2%.

Real estate stocks Killam Apartment (KMP.UN.TO), FirstService Corp (FSV.TO) and CDN Apartment (CAR.UN.TO) are down 1 to 1.2%.

Materials stock SilverCrest Metals Inc (SIL.TO) is soaring 20% on strong earnings. The company reported net income of $35.9 million for the fourth quarter of 2023, compared to net income of $5.23 million in the year-ago quarter.

Endeavour Silver Corp (EDR.TO) is up 12.5% after the company reported full-year (2023) net income of $6.1 million, compared to $6.2 million in 2022.

New Gold Inc (NGD.TO) is surging 9.5%, while MAG Silver Corp (MAG.TO), Fortuna Silver Mines (FVI.TO), Lithium Americas Corp (LAC.TO), Interfor Corp (IFP.TO), Canfor Corp (CFP.TO), Equinox Gold Corp (EQX.TO) and Osisko Mining Inc (OSK.TO) are gaining 4.3 to 6%.