Canadian Market Down Marginally In Cautious Trade

RTTNews | 724 days ago
Canadian Market Down Marginally In Cautious Trade

(RTTNews) - The Canadian market is down in negative territory a little before noon on Monday, with investors largely staying cautious as they await some key economic data and corporate earnings updates this week.

Data showing a less than expected GDP growth in China appears to be weighing a bit.

Utilities, materials and energy stocks are among the notable losers. Healthcare stocks are finding support. Shares from most of the sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index is down 28.77 points or 0.14% at 20,233.30.

Bausch Health Companies (BHC.TO) is rising 8.5%. Molson Coors Canada Inc (TPX.B.TO), Nuvei Corporation (NVEI.TO), Bombardier Inc (BBD.B.TO), Stella-Jones (SJ.TO) and Precision Drilling Corp (PD.TO) are up 2 to 4%.

Hut 8 Mining Corp. (HUT.TO) shares are down 4%. The company announced today that it will combine with U.S. Data Mining Group, Inc. dba US Bitcoin Corp in an all-stock merger of equals. The financial aspects of the deal are not revealed. The combined company will be named Hut 8 Corp. and will be a U.S.-domiciled entity.

Parex Resources (PXT.TO) shares are down more than 6% after the company announced that it has abandoned one of its wells at a Colombia project after tests confirmed no economic hydrocarbons at the site.

Cogeco Communications (CCA.TO), Cogeco Inc (CGO.TO), Imperial Oil (IMO.TO) and Fortis (FTS.TO) are down 1 to 1.7%.

On the economic front, wholesale sales in Canada rose 3.5% month-over-month in May 2023, after a 1.4% drop in April, final data from Statistics Canada showed.

A separate data from Statistics Canada showed car registrations in Canada increased to 165,568 Units in May from 148,815 Units in April of 2023.

read more
European Shares Decline As Tariff Worries Return To Haunt

European Shares Decline As Tariff Worries Return To Haunt

European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1, in a dramatic escalation of a trade war with the United States' closest ally over the country's alleged role in fentanyl flows.
RTTNews | 19 minutes ago
Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian shares ended mostly lower in cautious trade on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20 percent on most trading partners that haven't got letters yet.
RTTNews | 44 minutes ago
Yen Retreats Against Majors

Yen Retreats Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 1h 12min ago
Antipodean Currencies Rise Amid Risk-on Mood

Antipodean Currencies Rise Amid Risk-on Mood

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against other major currencies in the Asian session on Friday amid increased risk-on mood by the investors, following the broadly positive cues from Wall Street overnight, as traders hope for an end to the tariff uncertainty after U.S. President Donald Trump confirmed he will not extend the August 1 deadline for striking trade deals, though he continues to threaten higher reciprocal tariffs on various sectors and countries.
RTTNews | 1h 49min ago