Canadian Stocks Marginally Down In Cautious Trade

RTTNews | 69 days ago
Canadian Stocks Marginally Down In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance on Tuesday with investors largely refraining from making significant moves while awaiting the Federal Reserve's monetary policy due on Wednesday.

Lingering concerns about tariffs and some weak earnings updates also appear to be prompting investors to stay cautious.

The benchmark S&P/TSX Composite Index was down 24.98 points or 0.1% at 24,928.54 a little while ago. After dropping to 24,865.49 in early trades, the index climbed to 25,025.09 before retreating into negative territory again.

Healthcare, technology and real estate stocks are among the notable losers. Materials and energy stocks are faring well. Several stocks from communications sector are up as well.

Centerra Gold is soaring nearly 13% after the company said its board has approved a share buyback of up to $75 million. The company announced that earnings decreased in the first quarter to $30.5 million, from 66.4 million in the year-ago quarter.

Ero Copper is up nearly 9%, after reporting earnings per share of $0.35 for the latest quarter, up slightly from $0.32 a year ago.

Lundin Gold, Orla Mining, Ngex Minerals, Aya Gold & Silver, OceanaGold, Eldorado Gold, Wesdome Gold Mines, Iamgold Corporation, Dundee Precious Metals, International Petroleum and Sprott Inc. are gaining 3 to 7%.

Bausch Health Companies, down 4.7%, and Tilray Inc, down 3.3%, are among the notable losers in the healthcare index.

Shopify, Colliers International, Killam Apartment, Brookfield Business Partners, goeasy and Magna International are down 2 to 4%.

In economic news, data from Statistics Canada showed Canada posted a trade deficit of C$0.51 billion in March, narrowing from the C$1.41 billion shortfall recorded in February. Imports fell by 1.5% to $70.4 billion, the first decline since September, while exports dropped by 0.2% from the previous month to $69.9 billion.

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