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Canadian Shares Turning In Mixed Performance
(RTTNews) - Canadian shares are turning in a mixed performance in cautious trade on Thursday with investors continuing to assess the outlook for economic growth and interest rate paths of global central banks.
Energy stocks are gaining in strength, while technology, communications and consumer discretionary stocks are weak. Shares from the rest of the sectors are mostly subdued.
The benchmark S&P/TSX Composite Index is down 2.44 points at 19,896.63 about an hour past noon. The index, which climbed to a high of 20,008.92, dropped to 19,870.16. this afternoon.
Energy stocks Suncor Energy (SU.TO), Birchcliff Energy (BIR.TO), MEG Energy Corp (MEG.TO), Imperial Oil (IMO.TO), Baytex Energy (BTE.TO), Tourmaline Oil Corp (TOU.TO) and Athabasca Oil Corp (ATH.TO) are gaining 2 to 3%.
In the technology sector, Enghouse Systems (ENHG.TO) is down 3.4%. Dye & Durham (DND.TO), Shopify Inc (SHOP.TO), Sylogist (SYZ.TO), Lightspeed Commerce (LSPD.TO) and Constellation Software (CSU.TO) are down 1.6 to 2.5%.
Consumer discretionary stocks Brp Inc (DOO.TO), Spin Master Corp (TOY.TO) and Magna International (MG.TO) are down 1.4 to 1.8%. Canada Goose Holdings (GOOS.TO), Sleep Country Canada Holdings (ZZZ.TO) and Restaurant Brands International (QSR.TO) are lower by 1 to 1.2%.
Among communications shares, Quebecor Inc (QBR.B.TO) is declining 4% and Cogeco Communications (CCA.TO) is down 2.8%. Rogers Communications (RCI.B.TO) is down nearly 1%, while BCE Inc (BCE.TO) and Telus Corp (T.TO) are down 0.6% and 0.5%, respectively.
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