Canadian Market Down Firmly In Negative Territory At Noon

(RTTNews) - The Canadian market is down firmly in negative territory around noon on Thursday, weighed down by losses in energy, materials and technology sectors.

Several stocks from real estate and healthcare sections are also notably lower.

Weak U.S. and European markets, lower commodity prices, and hawkish comments from some Federal Reserve officials, including Governor Christopher Waller, St. Louis Fed President James Bullard and San Francisco Federal Reserve President Mary Daly, are hurting sentiment.

The benchmark S&P/TSX Composite Index is down 214.06 points or 1.07% at 19,743.90 a few minutes before noon.

Among energy stocks, Baytex Energy (BTE.TO), Tamarack Valley Energy (TVE.TO), Headwater Exploration (HWX.TO), Crescent Point Energy (CPG.TO), Vermilion Energy (VET.TO), Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO), Precision Drilling (PD.TO) and Enerplus Corp (ERF.TO) are down 3 to 5.4%.

Equinox Gold Corp (EQX.TO), down 7.7%, is the biggest loser in the Materials Index. First Quantum Minerals (FM.TO) is down 5%, while Ivanhoe Mines (IVN.TO), Filo Mining Corp (FIL.TO), Silvercrest Metals (SIL.TO), West Fraser Timber (WFG.TO) and Ssr Mining (SSRM.TO) are down 2.5 to 4%.

Among technology stocks, Hut 8 Mining Corp (HUT.TO) is declining 6%, Descartes Systems (DSG.TO) is down 5.6% and Sylogist (SYZ.TO) is down 4.4%. BlackBerry (BB.TO), Shopify Inc (SHOP.TO) and Magnet Forensics (MAGT.TO) are also down sharply.

Among the gainers, Canadian Tire Corporation (CTC.TO) is climbing nearly 10%. Restaurant Brands International (QSR.TO) is surging nearly 3%. Fairfax Financial Holdings (FFH.TO), Boyd Group Services (BYD.TO), Ag Growth International (AFN.TO) and Metro Inc. (MRU.TO) are also up with strong gains.