Canadian Market Flat In Lackluster Trade

(RTTNews) - The Canadian market is roughly flat Monday afternoon with investors largely making cautious moves as they await the U.S. Federal Reserve's monetary policy announcement, and the data on Canadian GDP and U.S. jobs data due later in the week.

The benchmark S&P/TSX Composite Index was down slightly at 21,969.10 a little while ago. Earlier, the index had dropped to 21,958.42 after advancing to 22,052.06 at the start.

Methanex Corporation (MX.TO), Docebo Inc (DCBO.TO), Tecsys Inc (TCS.TO), Aritzia Inc (ATZ.TO) and Nutrien (NTR.TO) are up 3 to 5%.

Teck Resources (TECK.A.TO), Senvest Capital (SEC.TO), goeasy (GSY.TO), Dayforce (DAY.TO) and Tourmaline Oil Corp (TOU.TO) are up 1.4 to 2.3%.

Cargojet Inc (CJT.TO) is rising 1.5%. The company reported first-quarter adjusted earnings of $31 million, or $1.86 per share, compared to $16.8 million, or $0.97 per share, in the year-ago quarter.

Rogers Communications (RCI.A.TO) is down 3%. Bombardier Inc (BBD.A.TO), Snc-Lavalin (ATRL.TO), West Fraser Timber (WFG.TO), Boyd Group Services (BYD.TO), EQB Inc (EQB.TO), TFI International (TFII.TO) and Stella-Jones Inc (SJ.TO) are down 1.2 to 2.1%.

Alimentation Couche-Tard Inc. (ATD.TO) is down marginally. The company announced today that the Toronto Stock Exchange has approved the renewal of its share repurchase program, authorizing Couche-Tard to repurchase up to 78,083,521 Common Shares, representing 10% of the company's "public float" as at April 18, 2024 .

Based on the current share price the completion of the Program in full would represent a total investment of approximately US $4.3 billion or CDN $5.9 billion.