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TSX Ends Marginally Up After Lackluster Session
(RTTNews) - Canadian stocks turned in a mixed performance on Wednesday after a lackluster session as investors largely stayed cautious ahead of crucial U.S. consumer and producer price inflation data, due on Thursday and Friday, respectively.
Technology, consumer, industrials and communications stocks were among the gainers, while energy stocks struggled for support.
The benchmark S&P/TSX Composite Index ended with a marginal gain of 18.44 points or 0.09% at 20,98.42 after moving between 20,965.03 and 21,030.59.
Filo Corp (FIL.TO) and Onex Corporation (ONEX.TO) both gained more than 8%. EQB Inc (EQB.TO) climbed 3.5%, while Docebo Inc (DCBO.TO), WSP Global Inc (WSP.TO), Descartes Systems Group (DSG.TO), Morguard Corporation (MRC.TO), Canadian Tire Corporation (CTC.A.TO), Intact Financial Corporation (IFC.TO) and CGI Inc (GIB.A.TO) gained 1.2 to 2.5%.
Tecsys Inc (TCS.TO), Tourmaline Oil Corp (TOU.TO), Fairfax Financial Holdings (FFH.TO), Quebecor Inc (QBR.A.TO) and BRP Inc (DOO.TO) lost 2 to 3%.
The Labor Department's reports on U.S. consumer and producer price inflation, due out on Thursday and Friday, respectively, could have a significant impact on the outlook for interest rates.
Economists expect the reports to show slowdowns in the annual rate of core price growth. However, if the data surprises to the episode, it could add to recent skepticism about whether the Fed will begin cutting rates in March.
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