Canadian Shares Turning In Mixed Performance

(RTTNews) - Canadian stocks are turning in a mixed performance on Wednesday with investors tracking earnings announcements, the trend in commodities markets, geopolitical news, and looking ahead to upcoming U.S. non-farm payroll data.

Technology stocks are up sharply. Stocks from healthcare, financials, consumer discretionary and real estate sectors are also mostly up with strong gains.

Energy and materials shares are down sharply. Shares from utilities and communications sectors are also weak.

The benchmark S&P/TSX Composite Index is up 67.93 points or 0.35% at 19,573.26. The index, which drifted down 19,485.02 this morning, advanced to 19,616.12 later before retreating a bit.

The Information Technology Capped Index is up 4.1%. Shopify Inc (SHOP.TO) is soaring more than 10%. Sierra Wireless (SW.TO) is gaining 8.7%, Kinaxis (KXS.TO) is climbing 8.1% and Hut 8 Mining Corp (HUT.TO) is surging nearly 8%.

Lightspeed Commerce (LSPD.TO), Nuvei Corp (NVEI.TO), Magnet Forensics (MAGT.TO), Celestica Inc (CLS.TO) and Absolute Software Corp (ABST.TO) are also up sharply.

The Health Care Capped Index is up nearly 3%. Bausch Health Companies (BHC.TO) is surging 14.3%. Cronos Group (CRON.TO) is rising 3.5%.

Goeasy (GSY.TO), up 5%, is the biggest gainer in the Financials Index. Royal Bank of Canada (RY.TO), CDN Western Bank (CWB.TO), Fairfax Financial Holdings (FFH.TO), Toronto-Dominion Bank (TD.TO), Sun Life Financial Inc (SLF.TO), Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO) and Manulife Financial (MFC.TO) are gaining 1 to 2%.

Colliers International Group Inc. (CIGI.TO) is gaining 2%. The company reported revenues of $1.13 billion for the quarter ended June 30, 2022, up 19% over the year-ago quarter.

Endeavour Mining Plc (EDV.TO) reported adjusted net earnings of $111 million for the quarter ended June 30, 2022, compared with $134 million in the previous quarter. The stock is up marginally.

Boralex Ltd. (BLX.TO) announced that it posted net earnings of $14 million for the quarter ended June 2022, as against net loss of $12 million for the corresponding period in 2021. Despite turnaround results, the stock is down by about 1%.

Nuvista Energy (NVA.TO) reported net earnings of $178 million for the April - June 2022 quarter, as against net loss of about $11 million in the year-ago quarter. The stock is down more than 5%.