Canadian Market Modestly Lower At Noon; Energy, Cannabis Stocks Fall

RTTNews | 47 hari yang lalu

(RTTNews) - The Canadian market is slightly weak around noon on Wednesday, weighed down by losses in healthcare, energy and consumer discretionary sectors. The mood is cautious with investors digesting the latest batch of economic data from the U.S. and awaiting the Federal Reserve's monetary policy announcement.

On the Canadian economic front, the S&P Global Canada Manufacturing PMI dropped to 49.4 in April, decreasing by 0.4 points from the previous month, marking the twelfth consecutive month of contraction in the nation's manufacturing activity.

The benchmark S&P/TSX Composite Index is down 49.84 points or 0.22% at 21,664.70 a few minutes past noon.

The Healthcare Capped Index is down 4.7%. Tilray Inc. (TLRY.TO), which posted a hefty gain in the previous session, is down 17.8%. Aurora Cannabis (ACB.TO) and Canopy Growth Corporation (WEED.TO) are plunging 21% and 26%, respectively. Organigram Holdings (OGI.TO) is down nearly 8%.

The Energy Capped Index is down nearly 2%. Baytex Energy (BTE.TO) is down 5%. Tamarack Valley Energy (TVE.TO), Crescent Point Energy (CPG.TO), Birchcliff Energy (BIR.TO), Vermilion Energy (VET.TO) and Whitecap Resources (WCP.TO) are down 3 to 4%.

Cenovus Energy Inc (CVE.TO) is down 1.7% after the company reported first-quarter net earnings of $1,176 million, compared with $636 million in the year-ago quarter.

Consumer discretionary stock Restaurant Brands International (QSR.TO) is down 3.7%. Mty Food Group (MTY.TO), Aritzia Inc (ATZ.TO) and Canada Goose Holdings (GOOS.TO) are down 1.6 to 1.9%. Brp Inc (DOO.TO) is down nearly 1%.

Among the gainers, Bombardier Inc (BBD.B.TO) climbing 6.3%. Boralex (BLX.TO) is up 4.2%. Cameco Corporation (CCO.TO), Boyd Group Services (BYD.TO), Sprott Inc (SII.TO), Descartes Systems Group (DSG.TO), Constellation Software (CSU.TO), Kinaxis Inc (KXS.TO), George Weston (WN.TO) Intact Financial Corporation (IFC.TO) are up 1 to 3%.

Loblaw Companies (L.TO) is gaining about 1.2%. The company reported adjusted net earnings of $537 million for the first-quarter of 2024, up $32 million or 6.3%, compared to year-ago quarter.

CGI Inc (GIB.A.TO) is down 2.2%. The company reported net earnings of $426.9 million for the second-quarter, up 1.8% year-over-year.

Fortis Inc. (FTS.TO) reported first-quarter net earnings of $459 million, or $0.93 per common share, up from $437 million, or $0.90 per common share in the year-ago quarter. The stock is gaining 0.8%.

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RTTNews | 8h 54menit yang lalu

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RTTNews | 9h 11menit yang lalu

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EURUSD	1.073	GBPUSD	1.27018	AUDUSD	0.66108
USDJPY	157.73	USDCAD	1.37211	USDCHF	0.8899