Canadian Market Flat In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance on Wednesday with investors assessing the prospects for interest rates, and making largely cautious moves amid concerns about the health of the world's second largest economy.
Healthcare, energy and consumer staples shares finding support, while shares from the rest of the sectors are mostly subdued.
The benchmark S&P/TSX Composite Index is up 1.80 points at 19,901.59 about an hour past noon. The index touched a low of 19,852.04 and a high of 19,965.71.
On the economic front, data from Canada Mortgage and Housing Corporation showed housing starts in Canada decreased to 255,000 units in July from 283,500 unites June.
Data from Statistics Canada showed wholesale sales in Canada decreased to -2.8% in June from a revised 2.9% increase in May.
Tilray Inc (TLRY.TO) is gaining 5%. Sienna Senior Living (SIA.TO) and Chartwell Retirement Residences (CSH.UN.TO) are up with modest gains.
Energy stocks Suncor Energy (SU.TO), Enerplus Corp (ERF.TO), Prairiesky Royalty (PSK.TO), Athabasca Oil Corp (ATH.TO), MEG Energy (MEG.TO), International Petroleum Corp (IPCO.TO), Whitecap Resources (WCP.TO), Imperial Oil (IMO.TO) and Vermilion Energy (VET.TO) are up 1 to 3%.
Consumer staples shares Weston George (WN.TO), Empire Company (EMP.A.TO), Metro Inc (MRU.TO), Loblaw (L.TO), Maple Leaf Foods (MFI.TO) and Primo Water Corp (PRMW.TO) are gaining 1 to 2%.
Goeasy (GSY.TO), AutoCanada (ACQ.TO), Aritzia Inc. (ATZ.TO), BRP Inc (DOO.TO), Teck Resources (TECK.B.TO), EQB Inc (EQB.TO) and Tourmaline Oil Corp (TOU.TO) are down 1 to 4%.
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