Canadian Market Up Marginally In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance amid thin volumes on Monday. The benchmark index is up marginally thanks to gains in select healthcare, energy and financials shares.
News that U.S. President Joe Biden and Congressional Republican McCarthy agreed on a debt ceiling deal on Saturday to avert a fast-approaching default in early June is aiding sentiment.
Biden and McCarthy agreed on Saturday to avert an economically destabilizing default by suspending the $31.4 trillion debt ceiling until 2025.
With the U.S. market closed today for Memorial Day, the volume of business in quite thin, and activity is mostly stock specific.
The benchmark S&P/TSX Composite Index is up 36.29 points or 0.18% at 19,956.60 a little past noon.
Canadian Western Bank (CWB.TO) is gaining about 5%. Sprott Inc (SII.TO), ATS Corporation (ATS.TO), Cogeco Communications (CCA.TO), Cogeco Inc (CGO.TO), Stantec Inc (STN.TO), Onex Corporation (ONEX.TO), Toronto-Dominion Bank (TD.TO) and Colliers International (CIGI.TO) are up 1 to 2.3%.
Restaurant Brands International (QSR.TO), Rogers Communications (RCI.A.TO), Alimentation Couche-Tard (ATD.TO) and Fairfax Financial Holdings (FFH.TO) are declining 1 to 1.4%.
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