Canadian Market Down Marginally In Cautious Trade

(RTTNews) - Canadian shares are swinging between gains and losses in cautious trade on Thursday amid growing uncertainty about global economic growth due to escalating trade war.

Investors are also closely following the political developments in Canada amid reports the Prime Minister Mark Carney may call a snap election in late April.

The benchmark S&P/TSX Composite Index was down 12.21 points or 0.05% at 25,057.00 a little while ago. The index opened with a negative gap of nearly 80 points at 24,992.14 and dropped to 24,923.12 before climbing to 25,174.97. However, it dropped subsequently to lack of support at higher levels.

Celestica Inc is rising 4.3%. MDA Space is gaining 4.2%, while Vermilion Energy and Kelt Exploration are up 3.5% and 3.4%, respectively.

Ivanhoe Mines, Secure Energy Services, TerraVest Industries, Keyera Corp., Methanex, Cameco, Novagold, Sprott Inc., Empire Company, Imperial Oil, Gibson Energy and Denison Mines are up 1.5 to 3%.

CGI Inc. is declining 4.5%. BRP Inc is down 4.4%. First Quantum Minerals, First Majestic Silver, Mattr Corp, Transcontinental, Lundin Mining, Lundin Gold Inc., Trisura, Rogers Communications, Wesdome Gold Mines, B2Gold Corp and Aecon Group are down 1.7 to 2.5%.

Data from Statistics Canada showed the industrial product price index grew 0.4% month over month in February, and increased 4.9% year over year. The index rose 1.6% month over month in January and increased 5.8% year over year.

The Raw Materials Price Index increased 0.3% month over month in February and rose 9.3% year over year, after growing 3.7% on a monthly basis and 11.8% year over year.