Canadian Market Recovers After Weak Start, Down Marginally At Noon
(RTTNews) - The Canadian market is down marginally a little past noon on Wednesday with investors largely making cautious moves amid concerns about inflation and interest rates after data showed a bigger than expected increase in Canadian consumer prices in April.
The benchmark S&P/TSX Composite Index, which dropped to 20,158.69, was down 27.42 points or 0.14% at 20,214.87 a few minutes past noon.
Materials, consumer staples, utilities and industrials shares are among the notable losers. Energy and healthcare stocks are finding support. A few stocks from the financials section are also up in positive territory with notable gains.
Nutrien (NTR.TO) is down 2.5%. Wheaton Precious Metals (WPM.TO) is declining 2.1%, while Emera Inc (EMA.TO), Kinaxis Inc (KXS.TO), Agnico Eagle Mines (AEM.TO) and Metro Inc (MRU.TO) are down 1.7 to 2%.
Fortis Inc (FTS.TO), Canadian National Railway (CNR.TO), Franco-Nevada Corporation (FNV.TO), Descartes Systems Group (DSG.TO), Constellation Software (CSU.TO) and Thomson Reuters Corporation (TRI.TO) are down 1 to 1.6%.
Lightspeed Commerce (LSPD.TO) is rising more than 8%. AutoCanada (ACQ.TO) is gaining 7.5%, Tucows Inc (TC.TO) is up 5.7% and Air Canada (AC.TO) is surging 5.3%.
Lithium Americas Corp (LAC.TO), Bombardier Inc (BBD.B.TO), Goeasy (GSY.TO), BRP Inc (DOO.TO), TFI International (TFII.TO), Bank of Montreal (BMO.TO) and Fairfax Financial Holdings (FFH.TO) are gaining 1 to 4%.
Data from Statistics Canada showed car registrations in Canada increased to 150,956 units in March from 109,781 units in February of 2023.
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply
U.S. Dollar Rises Ahead Of Fed's Powell Speech
CAC 40 Up Slightly In Lackluster Trade
U.S. Dollar Rises Against Majors
DAX Up Marginally In Cautious Trade Ahead Of Powell's Speech At Jackson Hole
