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Canadian Market Down Marginally As Investors Look For Direction
(RTTNews) - After a weak start and a subsequent rebound into positive territory, the Canadian market is down marginally a little past noon on Monday with investors largely making cautious moves amid rising fears about a global recession.
Shares from energy and utilities sections are sharply lower. Healthcare stocks are up with strong gains. Several stocks from technology section are also notably higher. A few stocks from consumer discretionary and industrials sectors are finding good support.
The benchmark S&P/TSX Composite Index is down 31.88 points or 0.17% at 18,449.10. The index advanced to 18,603.47 after opening at 18,402.52.
MEG Energy Corp (MEG.TO) and Baytex Energy (BTE.TO) are down 5.4% and 5.1%, respectively, on huge volumes.
Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO), Crescent Point Energy (CPG.TO) and Bank of Nova Scotia (BNS.TO) are declining 2 to 3.1%.
Air Canada (AC.TO) is gaining nearly 2%. Shopify Inc (SHOP.TO) is up by about 1.4%, and Hut 8 Mining Corp (HUT.TO) is advancing 1.3%. Manulife Financial (MFC.TO) and National Bank of Canada (NA.TO) are up with moderate gains.
On the economic front, preliminary data shows wholesale sales in Canada rose by 0.8% month-over-month in August of 2022, mainly reflecting higher sales in the food, beverage and tobacco subsector, Statistics Canada said.
Swiss Franc Recovers Against Majors
Euro Advances Against Most Majors
Canadian Market Slightly Lower In Cautious Trade
Swiss Market Ends Modestly Higher
European Stocks Close Higher
U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April
Russia Holds Key Interest Rate As Expected
