Canadian Market Modestly Higher In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance in cautious trade on Monday as investors await a slew of crucial economic data from across the globe.
Canada's GDP estimates for the month of July is due later in the week. It is expected that the Canadian economy grew by 0.1% in July.
On the U.S. economic front, data on consumer durable goods orders, personal consumption expenditure data for August and GDP data for the second quarter are due this week.
Healthcare and energy stocks are among the prominent gainers. Real estate and communications shares are weak.
The benchmark S&P/TSX Composite Index is up 27.35 points or 0.14% at 19,807.32.
Canadian Tire Corporation (CTC.TO) is gaining 4.3% and Cameco Corporation (CCO.TO) is climbing 3.75%. Imperial Oil (IMO.TO), Tourmaline Oil Corporation (TOU.TO), Teck Resources (TECK.B.TO), Methanex Corporation (MX.TO) and Precision Drilling Corporation (PD.TO) are up 2 to 3%.
Magna International (MG.TO), TFI International (TFII.TO), Canadian Natural Resources (CNQ.TO) and WSP Global Inc (WSP.TO) are also notably higher.
Bombardier Inc (BBD.B.TO), Wheaton Precious Metals (WPM.TO), MTY Food Group (MTY.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) are down 1 to 2%.
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