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.
Oil Futures Settle Sharply Higher On Inventory Drop, Supply Disruptions Concerns
TSX Up Nearly 1% As Interest Rate Concerns Drop
Swiss Market Ends On Firm Note
European Stocks Close On Firm Note On Encouraging Economic Data
U.S. Dollar Falls As Core Inflation Slows
New York Manufacturing Index Unexpectedly Indicates Contraction In January
U.S. Annual Core Consumer Price Growth Unexpectedly Slows In December
