Canadian Market Modestly Higher In Cautious Trade

(RTTNews) - The Canadian market is up in positive territory in cautious trade on Tuesday, with investors making some selective purchases ahead of the launch of fresh tariffs by the Trump Administration.

Technology, utilities, consumer discretionary, consumer staples and real estate stocks are finding some support, while communications and materials stocks are weak.

The benchmark S&P/TSX Composite Index, which climbed to 25,072.36 earlier, was up 85.81 points or 0.34% at 25,003.31 a little while ago.

Ivanhoe Minies is climbing up more than 5.5%. goeasy, BRP Inc., Eldorado, Shopify, Spin Master Corp, Superior Plus Corp, Fairfax Financial Holdings, Parex Resources, First Quantum Minerals, West Fraser Timber and Onex Corp are up 2 to 4%.

Brookfield Asset Management is gaining 1.7%. Brookfield and Angel Oak Companies today announced that they have entered into an agreement in which Brookfield will acquire a majority ownership stake in Angel Oak and offer its investors access to the firm's residential mortgage credit strategies.

Canopy Growth (WEED.TO) is soaring 10% after the company announced that it has made an optional early prepayment of US$100 million under its senior secured term loan at a discounted price of US$97.5 million. The company will save about US$13 million in interest expenses on an annualized basis.

Endeavour Silver is plunging nearly 16%. The company announced that it has signed a definitive agreement to acquire Compania Minera Kolpa and its Huachocolpa Uno mine in Peru for US$145 million in cash and shares.

Rogers Communications, MDA Space, New Gold, Equinox Gold, First Majestic Silver, K92 Mining, Seabridge Gold, SSR Mining, Osisko Gold Royalties, Fortuna Mining, Wheaton Precious Metals, Pan American Silver and Methanex are down 2 to 6%.

Data from S&P Global said the S&P Global Canada Manufacturing PMI fell to 46.3 in March from 47.8 in the previous month, pointing to a further deterioration in factory activity, pressured by contractions in both output and new orders.