Canadian Market Marginally Down As Stocks Swings Between Gains And Losses

(RTTNews) - After an early upmove and a subsequent fall into negative territory, the Canadian market recovered a bit on Friday, but slipped again in cautious trade.

A few stocks from healthcare and consumer sectors are up in positive territory. Materials stocks are showing weakness. Energy stocks are somewhat subdued, while several technology stocks have retreated after a steady start.

Encouraging revenue guidance from Apple Inc., and Amazon triggered some buying in Canadian tech space this morning. Celestica Inc climbed higher early on in the session, but gave up gains subsequently and is up just marginally now. Shopify too has pared early gains and is currently down slightly before the flat line.

The mood remains cautious with investors assessing the recent moves by central banks, including the Federal Reserve and the Bank of Canada, and the developments on the trade front where China and the U.S. have reportedly reached a deal.

The benchmark S&P/TSX Composite Index was down 38.97 points or 0.13% at 30,140.01 a little while ago. The index, which climbed to 30,314.63, dropped to 30,120.58 subsequently.

Materials stock B2Gold Corp is down more than 8%. Perpetua Resources, First Majestic Silver, Kinross Gold, Centerra Gold and Ssr Mining are down 2 to 4.3%.

Methanex Corp is soaring nearly 16%. Capstone Mining, Ngex Minerals and Winpak are up 3.5%, 2% and 1.2%, respectively.

Lightspeed Commerce, Constellation Software, Open Text Corporation, Enghouse Systems and BlackBerry are up 1 to 1.8%.

Healthcare stock Bausch Health Companies is surging 8%. Chartwell Retirement Residences is gaining 1.5%.

Industrials stock TFI International Inc. is gaining about 3.7%. The company reported a net income of $84.7 million or $1.02 per share for the third quarter, compared to $125.9 million or $1.48 per share in the year-ago quarter.

Consumer discretionary stocks Magna International and Aritzia are gaining 4.5% and 2.3%, respectively. Dollarama is advancing by about 1%.

In the consumer staples sector, Jamieson Wellness, Empire Company, Saputo and George Weston are up 1 to 1.7%.

Financials stocks Laurentian Bank, IA Financial Corp, Manulife Financial and EQB are gaining 1 to 2%.

Baytex Energy, up 4.8%, tops the list of gainers in the Energy index. Kelt Exploration is gaining 3.2%. Birchcliff Energy, International Petroleum, Cenovus Energy, Tourmaline Oil Corp and Terravest Capital are up 1.5 to 2.3%.

Data from Statistics Canada showed Canadian real gross domestic product dropped 0.3% in August.

According to preliminary estimates, GDP increased to 0.1% in September from -0.3% in August.