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Canadian Market Slips After Positive Start, Modestly Lower At Noon
(RTTNews) - After opening on a positive note, the Canadian market retreated Tuesday morning, and is down in the red a little past noon, weighed down by losses in energy and healthcare sections.
The mood remains cautious amid lingering worries about global economic slowdown and looming interest rate hikes.
The benchmark S&P/TSX Composite Index, which advanced to 19,371.48, gaining more than 130 points in the process, is down 30.97 points or 0.16% at 19,239.88 a few minutes past noon.
Aurora Cannabis (ACB.TO), down more than 5%, tops the list of losers in the Healthcare Index. Tilray Inc (TLRY.TO) is down by about 4.5%, Canopy Growth Corp (WEED.TO) is declining 4% and Cronos Group (CRON.TO) is lower by about 3.3%.
In the energy sector, Advantage Oil & Gas (AAV.TO), Spartan Delta Corp (SDE.TO), Vermilion Energy (VET.TO), Paramount Resources (POU.TO) and Precision Drilling Corp (PD.TO) are down 2 to 3%.
Tourmaline Oil Corp (TOU.TO) is gaining 2.5%. Parex Resources (PXT.TO) and PrairieSky Royalty (PSK.TO) are also notably higher.
Lithium Americas Corp (LAC.TO), Teck Resources (TECK.B.TO), Dollarama (DOL.TO), Fairfax Financial Holdings (FFH.TO) and Thomson Reuters (TRI.TO) are gaining 1.5 to 3%.
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