TSX Down In Negative Territory As Energy, Materials Shares Lose Ground
(RTTNews) - The Canadian market, which opened on a weak note Wednesday morning, continues to languish in negative territory, weighed down by losses in materials and energy sectors due to lower commodity prices.
Technology stocks are finding good support, while a few stocks from utilities and industrials sectors are also trading higher.
The market is eyeing the minutes from Federal Reserve's most recent meeting for clues about the outlook for interest rates.
The benchmark S&P/TSX Composite Index is down 72.08 points or 0.32% at 22,396.08 about a quarter before noon.
The Materials Capped Index is down 2.22%. Iamgold Corp (IMG.TO) is down more than 9%, and Hudbay Minerals (HBM.TO) is declining 8.1%. New Gold (NGD.TO), Lundin Mining Corp (LUN.TO), Capstone Mining (CS.TO), Centerra Gold (CG.TO), Wesdome Gold Mines (WDO.TO), Teck Resources (TECK.B.TO), Ero Copper (ERO.TO), First Quantum Minerals (FM.TO), Ivanhoe Mines (IVN.TO) and Torex Gold Resources (TXG.TO) are down 4 to 6.5%.
The Energy Capped Index is down 1.47%. Among the major losers, International Petroleum Corp (IPCO.TO) is down 3.4%. Canadian Natural Resources (CNQ.TO), Peyto Exploration (PEY.TO), Kelt Exploration (KEL.TO), Tamarack Valley Energy (TVE.TO), Vermilion Energy (VET.TO) and Baytex Energy (BTE.TO) are down 2 to 2.5%.
The Information Technology Capped Index is up 1.25%. Bitfarms Inc (BITF.TO) is soaring more than 8%. Hut 8 Corp (HUT.TO) is gaining 4%. Celestica Inc (CLS.TO), Computer Modelling Group (CMG.TO), BlackBerry (BB.TO) and Descartes Systems Group (DSG.TO) are advancing 1 to 2.3%.
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