Canadian Market Flat At Noon; Technology Stocks Moving Higher
(RTTNews) - The Canadian market is quite subdued on Monday with investors largely staying cautious and refraining from making significant moves, as they await the upcoming Federal Reserve's monetary policy meeting for some direction.
The European Central Bank and the Bank of England too have meetings scheduled this week.
The benchmark S&P/TSX Composite Index is up 4.18 points or 0.02% at 19,951.25 a few minutes before noon.
Technology, energy and healthcare stocks are among the prominent gainers. Financials shares are weak, while shares from the rest of the sectors are turning in a mixed performance.
Technology stocks Kinaxis Inc (KXS.TO) and Coveo Solutions (CVO.TO) are up 5.5% and 5.4%, respectively. Nuvei Corp (NVEI.TO), Enghouse Systems (ENGH.TO), Softchoice Corp (SFTC.TO), Sylogist (SYZ.TO), Absolute Software Corp (ABST.TO), Telus International (TIXT.TO), Constellation Software (CSU.TO) and Dye & Durham (DND.TO) are gaining 3 to 4.5%.
In the energy sector, Precision Drilling (PD.TO) is rising nearly 4%. Enerplus Corp (ERF.TO), Peyto Exploration (PEY.TO), Nuvista Energy (NVA.TO), Crescent Point Energy (CPG.TO), Vermilion Energy (VET.TO), Prairiesky Realty (PSK.TO) and Parex Resources (PXT.TO) are up 2 to 3%.
Healthcare stocks Canopy Growth Corp (WEED.TO), Cronos Group (CRON.TO) and Tilray Inc (TLRY.TO) are up 4.6%, 2.3%, and 2.1%, respectively. Bellus Health Inc (BLU.TO) is advancing 1.2%.
Canadian Imperial Bank of Commerce (CM.TO), CDN Wesetern Bank (CWB.TO), Bank of Montreal (BMO.TO) and Bank of Nova Scotia (BNS.TO) are down 1 to 2.4%.
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