Canadian Market Modestly Lower, Looks Headed For Weak Close
(RTTNews) - The Canadian market, which climbed higher Friday morning after opening slightly up, slipped into negative territory subsequently and looks set to end the session on a weak note, due largely to selling at several technology counters.
Energy and materials stocks are up, riding on higher oil and gold prices.
The benchmark S&P/TSX Composite Index was down 65.00 points or 0.17% at 36,695.29 a little while ago.
Enghsouse Systems, Celestica, Shopify, Lightspeed Commerce, Computer Modelling, Coveo Solutions and Constellation Sofware shed 2.5%-3%.
Energy stock Enerflex climbed nearly 3%. Parex Resources, Tamarack Valley Energy, International Petroleum Corporation, Cenovus Energy, Strathcona Resources, Kelt Exploration, Baytex Energy, Headwater Exploration and Whitecap Resources gained 1.3%-2%.
Among materials stocks, Orla Mining jumped 7.5%. Seabridge Gold, Americas Gold & Silver Corporation, Torex Gold Resources, Discovery Mining, Methanex, Iamgold Corp., Equinox Gold, Endeavour Silver Corp., and Agnico Eagle Mines ended up by 2.5%-3.6%.
Mattr Corp, Ballard Power Systems, Bombardier, Extendicare, Real Matters, Bausch Health Companies and EQB moved up sharply.
Brookfield, Aurora Cannabis, Thomson Reuters, Tilray, Stella Jones, Interfor, Cargojet, Onex Corporation and Richelieu Hardware ended notably lower.
In economic news, data from Statistics Canada showed manufacturing sales in Canada decreased 0.1% in June after a 1.3% drop in May. Wholesale Sales in Canada increased 2.8% in June after remaining unchanged in May.
A separate data from Statistics Canada showed Canada's manufacturing capacity utilization rate increased to 82.3% in June from 82.2% in May.
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