Canadian Market Continues To Languish In Negative Territory
(RTTNews) - The Canadian market continues to languish in negative territory Wednesday afternoon with stocks from energy and consumer staples sectors posting sharp losses.
The benchmark S&P/TSX Composite Index, which drifted down to 20,580.50 around noon, is down 109.70 points or 0.52% at 20,657.68.
The Energy Capped Index is down more than 3%. Spartan Delta Corp (SDE.TO) is plunging nearly 10%. Crescent Point Energy (CPG.TO), Vermilion Energy (VET.TO) and Enerplus Corp (ERF.TO) are down 5 to 5.6%.
Cenovus Energy (CVE.TO), Whitecap Resources (WCP.TO), Baytex Energy (BTE.TO), Arc Resources (ARX.TO), Precision Drilling Corp (PD.TO) and Canadian Natural Resources (CNQ.TO) are down 3 to 4%.
Consumer staples stocks Loblaw Co (L.TO), Empire Company (EMP.A.TO), Metro Inc (MRU.TO), Premium Brands Holdings (PBH.TO), Weston George (WN.TO) and Saputo (SAP.TO) are down 1 to 2%.
Among the gainers, Linamar Corporation (LNR.TO), CGI Inc (GIB.A.TO), BRP Inc (DOO.TO) and Boralex (BLX.TO) are up 3 to 4.5%.
Magna International (MG.TO), Canadian Tire Corporation (CTC.A.TO), Cogeco Inc (CGO.TO), Descartes Systems Group (DSG.TO), Tfi International (TFII.TO) and Goeasy (GSY.TO) are gaining 1 to 2.7%.
On the economic front, the S&P Global Canada Manufacturing PMI rose to 51 in January 2022 from 49.2 in the previous month.
RBA Minutes On Tap For Tuesday
U.S. Dollar Climbs Against Majors
Swiss Market Ends Moderately Lower
European Markets Close Weak After Cautious Session
Canadian Market Down More Than 0.5% On Profit Taking
U.S. New Home Sales Pull Back From Upwardly Revised Level In July
Bay Street May Open On Weak Note
