Canadian Market Modestly Lower In Lackluster Trade
(RTTNews) - Canadian stocks are turning in a mixed performance on Friday with investors digesting a slew of Canadian earnings updates from the U.S. and Canada, as well as the latest batch of economic releases.
Energy stocks are finding some support, while real estate stocks are weak. Communications, consumer staples and financials shares are mostly subdued.
The benchmark S&P/TSX Composite Index was down 41.30 points or 0.17% at 24,510.25 a little while ago.
Torex Gold Resources (TXG.TO) and iA Financial Corporation (IAG.TO) are down 3.4% and 3%, respectively. Cogeco Inc (CGO.TO), Brookfield Wealth Solutions (BNT.TO), Restaurant Brands International (QSR.TO) and Bombardier Inc (BBD.B.TO) are down 1 to 2%.
West Fraser Timber (WFG.TO) is gaining about 3%. Winpak (WPK.TO) and Celestica Inc (CLS.TO) are up 2.7% and 2.3%, respectively. Nutrien (NTR.TO), goeasy (GSY.TO), Boyd Group Services (BYD.TO) and Cargojet (CJT.TO) are up 1 to 2%.
Corus Entertainment (CJR.B.TO) is down nearly 10% after disappointing results. The company reported a net loss of $25.7 million, or $0.13 per share, in the fourth-quarter, compared with net income of $50.4 million, or $0.25 per share, in the year-ago quarter.
On the economic front, data srom Statistics Canada showed retail sales in the country likely increased by 0.4% from the previous month in September, according to flash estimate.
Retail sales increased 1.4% in August over the same month in the previous year.
Manufacturing sales in Canada decreased by 0.8% in September from -1.3% in August.
Another data from Statistics Canada said the new house price index in Canada remained unchanged at 0% in September. On yearly basis, the index increased to 0.2% in September from 0% in August.
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