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%.
Bay Street Likely To Open Slightly Higher
U.S. Dollar Extends Rise Amid Fed Chair Powell Comments
FTSE 100 Modestly Lower In Cautious Trade
CAC 40 Drifts Lower On Valuation Concerns, Rate Uncertainty
Sensex, Nifty Extend Declines For Fourth Day
U.S. Dollar Rises Against Majors
German Ifo Business Confidence At 4-Month Low
