Canadian Market Up Marginally In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance Monday morning with investors largely refraining from making significant moves amid a lack of fresh triggers.

With the U.S. market closed today for Martin Luther King Jr. Day, and Canadian inflation data due later this week, the mood is quite cautious.

The benchmark S&P/TSX Composite Index, which opened marginally down at 20,966.90 and dropped to 20,932.47 subsequently, has recovered lost ground and is up 25.22 points or 0.12% at 21,015.44.

Communications and energy stocks are finding some support, while materials and technology stocks are mostly subdued.

Badger Infrastructure Solutions (BDGI.TO) is gaining more than 3.5%. West Fraser Timber (WFG.TO), Canadian Natural Resources (CNQ.TO), MTY Food Group (MTY.TO), Cameco Corporation (CCO.TO), Thomson Reuters (TRI.TO), BRP Inc (DOO.TO) and Dollarama Inc (DOL.TO) are up 1 to 2%.

Filo Corp (FIL.TO) is down more than 5%. Rogers Communications (RCI.A.TO), Open Text Corp (OTEX.TO), Russel Metals (RUS.TO), Stantec Inc (STN.TO), ATS Corporation (ATS.TO), Magna International (MG.TO), Nutrien (NTR.TO), goeasy (GSY.TO) and Intact Financial Corporation (IFC.TO) are down 1 to 2.5%.

Data from Statistics Canada showed Canada's manufacturing sales rose by 1.2% from a month earlier to C$ 71.7 billion in November, matching the preliminary estimate, after seeing a 2.9% drop in October. On a yearly basis, total sales were down 0.8% in November.

Wholesale sales in Canada increased 0.9% (m-o-m) to C$82.5 billion in November, rebounding from a 0.5% decline in the previous month.

A separate data from Statistics Canada showed car registrations in Canada decreased to 143,723 units in November from 151,144 units in October.