Canadian Market Swinging Between Gains And Losses
(RTTNews) - After a flat start and a subsequent fall to lower levels, the Canadian market advanced a bit Friday morning, but turned weak again and is currently hovering around the unchanged line, weighed down by losses in consumer discretionary and healthcare sectors.
Data showing a drop in Canadian retail sales in the month of November is weighing on sentiment.
The benchmark S&P/TSX Composite Index, which dropped to 20,676.51 after rising to 20,781.89, is currently up 1.61 points at 20,758.34.
Data from Statistics Canada showed retail sales edged lower by 0.2% in November, after advancing by a downwardly revised 0.5% in October. Retail sales expanded 1.8% from the previous year, slowing from the 2.2% increase in October.
According to preliminary estimates, retail sales in Canada are expected to have surged 0.8% from the previous month in December.
Richelieu Hardware Ltd. (RCH.TO) is down 4.6%. Cameco Corporation (CCO.TO) is lower by about 3.2%. Bombardier Inc (BBD.A.TO), Cogeco Inc (CGO.TO), West Fraser Timber (WFG.TO), GFL Environmental (GFL.TO), Cogeco Communications (CCA.TO), MTY Food Group (MTY.TO) and Docebo Inc (DCBO.TO) are down 1.4 to 2.5%.
Among the gainers, Celestica Inc (CLS.TO) is rising more than 4%. Onex Corporation (ONEX.TO) is up nearly 3%, while Fairfax Financial Holdings (FFH.TO), Teck Resources (TECK.A.TO), Intact Financial Corporation (IFC.TO) and Teck Resources (TECK.B.TO) are advancing 1 to 2%.
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