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Energy, Industrials Shares Dragging Down Canadian Market
(RTTNews) - The Canadian market is down in negative territory at noon on Monday as losses in energy and industrials sectors offset solid gains in the technology space.
The mood remains cautious with investors awaiting a slew of crucial Canadian and U.S. economic data this week for clues about the futures interest rate moves by the central banks.
Energy stocks are losing ground due to lower crude oil prices.
The benchmark S&P/TSX Composite Index is down 62.12 points or 0.31% at 20,040.99 at noon.t
Parex Resources (PXT.TO), down 2.25%, is the biggest loser in the Energy Index, which is down by about 1.16%. Vermilion Energy (VET.TO), Athabasca Oil Corp (ATH.TO), Nuvista Energy (NVA.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO) and Enerplus Corp (ERF.TO) are down 1 to 2%.
Among industrials shares, Canadian Pacific Railway (CP.TO), Brookfield Business Partners (BBU.UN.TO), Canadian National Railway (CNR.TO), Gfl Environmental (GFL.TO) and Bombardier Inc (BBD.B.TO) are down 2 to 3%. Ballard Power Systems (BLDP.TO), Telus International (TIXT.TO) are also notably lower.
Among technology stoccks, Shopify Inc (SHOP.TO) is climbing 4%. Tecsys Inc (TCS.TO), Lightspeed Commerce (LSPD.TO), Enghouse Systems (ENGH.TO), Kinaxis Inc (KXS.TO), Dye & Durham (DND.TO), BlackBerry (BB.TO), Open Text Corporation (OTEX.TO) and Hut 8 Mining (HUT.TO) are gaining 1 to 2%.
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