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Canadian Shares Turning In Mixed Performance In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with investors looking for direction and making largely cautious moves.
Healthcare and financials shares are among the notable losers. Technology and communications shares are finding some support.
While easing fears about a recession help underpin sentiment, worries about interest rate hikes appear to be prompting investors to stay cautious.
The benchmark S&P/TSX Composite Index, which touched a low of 19,953.27 and a high of 20,068.30, is up 4.54 points at 20,029.17 about a quarter past noon.
Technology stocks Coveo Solutions (CVO.TO), Shopify Inc (SHOP.TO) and Open Text Corporation (OTEX.TO) are gaining 4.4%, 2% and 1.5%, respectively.
Canopy Growth Corporation (WEED.TO), down 7%, is the biggest loser in the Healthcare Index. Tilray Inc (TLRY.TO) is declining 5.2% and Bausch Health Companies (BHC.TO) is down by about 1.6%.
In the financials section, Laurentian Bank (LB.TO), Canadian Imperial Bank of Commerce (CM.TO), National Bank of Canada (NA.TO), Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Bank of Nova Scotia (BNS.TO) and Bank of Montreal (BMO.TO) are down 0.6 to 1.2%.
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