Canadian Market Modestly Higher, Set For Another Positive Close

(RTTNews) - Canadian stocks are turning in a mixed performance on Tuesday with investors reacting to the nation's inflation data, and assessing the likely impact of the policies of Donald Trump, who took office as the President of the United States on Monday.

Trump signed a slew of executive orders on Monday and signaled imposition of tariffs on imports from several countries.

Healthcare and energy stocks are weak, while technology stocks are finding good support. A few stocks from consumer discretionary, industrials and financials sectors are trading higher.

The benchmark S&P/TSX Composite Index was up 93.71 points or 0.37% at 25,26.29 with a little over an hour to go for the closing bell.

Data from Statistics Canada showed the annual inflation rate in Canada eased to 1.8% in December from 1.9% in the previous month. The consumer price index in Canada decreased 0.4% month-over-month in December, after a flat reading in November.

The data also said that the annual core inflation in Canada rose to a six-month high of 1.8% in December, up from 1.6% in the prior month. On a monthly basis, core consumer prices fell by 0.3% in December, following a 0.1% decrease in the previous month.

E-L-Financial Corporation (ELF.TO) is soaring 11.3%. Telesat Corporation (TSAT.TO) is gaining 9%. Canadian Tire Corporation (CTC.TO), Torex Gold Resources (TXG.TO), ATS Corporation (ATS.TO) and Celestica Inc (CLS.TO) are gaining 3 to 5%.

Calian Group (CGY.TO), goeasy (GSY.TO), Agnico Eagle Mines (AEM.TO), Cameco Corporation (CCO.TO), Imperial Oil (IMO.TO) and Onex Corporation (ONEX.TO) are up 2 to 3%.

Hut 8 Corp (HUT.TO), Bombardier Inc (BBD.B.TO), MEG Energy (MEG.TO), First Quantum Minerals (FM.TO), Cargojet (CJT.TO), Dayforce (DAY.TO), Boralex (BLX.TO), Canadian Natural Resources (CNQ.TO) and Cenovus Energy (CVE.TO) are down 2 to 5.3%.