Canadian Market Extending Recent Gains
(RTTNews) - Canadian shares are turning in a mixed performance on Tuesday with investors weighing recent economic data, looming interest rate hikes and their likely impact on growth.
Upbeat earnings news from several top name U.S. companies including Goldman Sachs and Johnson & Johnson are aiding sentiment.
Energy stocks are mostly down with notable losses. Industrials, technology and financials shares are in demand, while those from consumer, materials, healthcare and real estate sectors are mixed.
The benchmark S&P/TSX Composite Index is up 141.15 points or 0.76% at 18,762.17 nearly half an hour past noon.
Iamgold Corporation (IMG.TO) is soaring more than 17% on huge volumes. Shopify Inc (SHOP.TO) is rising 4.2%. Air Canada (AC.TO), Cameco Corporation (CCO.TO), B2Gold Corp (BTO.TO), Royal Bank of Canada (RY.TO) are up 1 to 2%.
Data from the Canada Mortgage and Housing Corporation showed housing starts in Canada decreased to 267,440 units in August from 275,160 units in July of 2022.
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