Canadian Shares Turning In Mixed Performance; TSX Modestly Higher At Noon

(RTTNews) - Canadian stocks are turning in a mixed performance on Tuesday with investors digesting a slew of earnings announcements, and making largely cautious moves.

The benchmark S&P/TSX Composite Index is up 79.37 points or 0.36% at 22,338.84 a few minutes past noon.

On the economic front, the Ivey Purchasing Managers Index in Canada surged to 63 in April 2024 from 57.5 in March, surpassing expectations of 58.1 and reaching its highest level in two years. It was the ninth consecutive monthly increase.

Among the most actively traded stocks, Cameco Corporation (CCO.TO) is up 3.4% on strong volumes. Canopy Growth Corporation (WEED.TO) and Toronto Dominion Bank (TD.TO) are gaining 1.5% and 1.3% on huge volumes. Air Canada (AC.TO) is down by about 1.2%.

Finning International (FTT.TO) is advancing 3.2%. The company reported first-quarter net income of $121 million, compared to $134 million a year ago.

Aritzia Inc (ATZ.TO), Celestica Inc (CLS.TO), Nutrien (NTR.TO), Colliers International (CIGI.TO), Cargojet (CJT.TO) and Canadian Natural Resources (CNQ.TO) are up 1 to 3%.

Dye & Durham (DND.TO) is down 3.7%. Westshore Terminals Investment Corporation (WTE.TO) is down 3.3%. Pet Valu Holdings (PET.TO) is down 2.4%. Snc-Lavalin (ATRL.TO), Kinaxis Inc (KXS.TO) and WSP Global (WSP.TO) are lower by 0.8 to 1.2%.

George Weston Ltd. (WN.TO) reported adjusted net earnings of $312 million for the first-quarter of 2024, up $30 million or 10.6%, compared to its net earnings in the year-ago quarter. The stock is up marginally.

MEG Energy Corp (MEG.TO) is down 0.44%. The company announced after trading hours on Monday that its net earnings increased to $98 million in the first quarter of 2024 from $81 million in the same period of 2023.

CT Real Estate Investment Trust (CRT.UN.TO) reported first-quarter net income of C$1.01 billion, compared to C$70.5 million in the year-ago quarter.