Canadian Market Ends Slightly Higher

RTTNews | 519天前
Canadian Market Ends Slightly Higher

(RTTNews) - Canadian stocks moved in a narrow range on Monday with investors largely refraining from making significant moves, amid slightly fading hopes about an early interest rate cut by the Federal Reserve after recent data.

The benchmark S&P/TSX Composite Index ended with a small gain of 18.22 points or 0.08% at 22,185.25, after moving between 22,110.60 and 22,204.74.

Materials and energy stocks moved higher on firm metal and oil prices. Healthcare, real estate, utilities and consumer discretionary stocks drifted lower.

In the materials sector, Iamgold Corp (IMG.TO) soared more than 9%. Novagold (NG.TO), First Majestic Silver Corp (FR.TO), Ssr Mining (SSRM.TO), Seabridge Gold (SEA.TO), Wesdome Gold Mines (WDO.TO), Fortuna Silver Mines (FVI.TO) and Agnico Eagle Mines (AEM.TO) gained 3 to 6.2%.

In the energy sector, Pason Systems (PSI.TO) climbed more than 5%. Baytex Energy (BTE.TO) gained 3.3%, while Prairiesky Royalty (PSK.TO) and Secure Energy Services (SES.TO) both gained nearly 2.5%. Whitecap Resources (WCP.TO) gained about 1.4%.

Healthcare stocks Sienna Senior Living (SIA.TO) and Bausch Health Companies (BHC.TO) lost 2.4% and 1.6%, respectively. Tilray Inc (TLRY.TO) ended down 0.9%.

Real estate stocks Northwest Healthcare (NWH.UN.TO) and CT Real Estate (CRT.UN.TO) lost 4% and 2.5%, respectively. Colliers International (CIGI.TO), H&R Real Estate (HR.UN.TO), Killam Apartment (KMP.UN.TO) and Boardwalk Real Estate Investment (BEI.UN.TO)lost 1.6 to 2%.

Utilities shares Brookfield Infra Partners (BIP.UN.TO) and Superior Plus Corp (SPB.TO) lost 2.46% and 2.38%, respectively.

Among consumer discretionary stocks, Magna International (MG.TO) and Sleep Country Canada Holdings (ZZZ.TO) both ended down by about 1.9%. Mty Food Group (MTY.TO) dropped 1.49%, while Linamar Corp (LNR.TO) and Restaurant Brands International (QSR.TO) lost 1.1% and 1%, respectively.

On the economic front, the S&P Global Canada Manufacturing PMI edged up 0.1 point from the previous month to 49.8 in March, pointing to the eleventh consecutive contraction in the Canadian factory activity.

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