Canadian Stocks Modestly Higher In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance on Wednesday with investors largely refraining from making significant moves, choosing to wait for more data to gauge the economic situation in the U.S. after data released by the Bureau of Labor Statistics showed job growth in the U.S. was weaker than previously reported in the twelve months ended March 2024.
Real estate, technology, consumer discretionary, healthcare and materials shares are finding modest support. Energy stocks are mostly subdued.
The benchmark S&P/TSX Composite Index was up 76.34 points or 0.33% at 23,113.78 a little while ago.
Northland Power Inc (NPI.TO), Boralex Inc (BLX.TO), Badger Infrastructure (BDGI.TO), BRP Inc (DOO.TO), Calian Group (CGY.TO), Sprott Inc (SII.TO), Toromont Industries (TIH.TO), EQB Inc (EQB.TO) and TC Energy Corporation (TRP.TO) are down 0.7 to 2%.
Molson Coors Canada Inc. (TPX.B.TO) is gaining nearly 3%. Boardwalk Real Estate Investment (BEI.UN) is up 2.3%, and Docebo Inc (DCBO.TO) is up 2.1%.
Constellation Software (CSU.TO), Nutrien (NTR.TO), Onex Corporation (ONEX.TO), iA Financial Corporation (IAG.TO), Fairfax Financial Holdings (FFH.TO) and WSP Global (WSP.TO) are up 1 to 1.8%.
On the economic front, Canada's industrial producer inflation stood at 2.9% in July 2024, unchanged from the revised figure in June.
Raw materials prices in Canada increased by 4.10 percent year-on-year in July 2024, easing from a 7.50 percent increase in the previous month.
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