Canadian Market Up Marginally At Noon In Cautious Trade

(RTTNews) - After opening slightly up, the Canadian market slipped into negative territory Thursday morning, but edged up a bit subsequently in cautious trade, with a few stocks from technology and financials sectors posting solid gains.

Amid a jump in U.S. treasury yields due to concerns about the fiscal impact of a tax cut bill, and continuing uncertainty about tariffs, investors a bit reluctant to make significant moves.

The benchmark S&P/TSX Composite Index, which dropped to 25,764.80 earlier in the session, was up 21.05 points or 0.08% at 25,860.22 a few minutes past noon.

In economic news, data from Statistics Canada showed Industrial producer prices in Canada declined by 0.8% over a month in April, after posting six consecutive months of increases. On a yearly basis, producer prices advanced by 2%.

The Canadian Raw Materials Price Index fell 3% from the previous month in April, following a 1% drop in March, marking the second consecutive decline and the largest drop since September 2024. Compared to the same month a year earlier, the raw materials price index dropped by 3.6%.

A report from the Canadian Federation of Independent Business said Canada's CFIB Business Barometer long-term index, which reflects 12-month expectations among small businesses, rose by 5.2 points to 40.0 in May 2025, reaching a three-month high after April's 34.8 reading.

Lightspeed Commerce is down 7.7%. Brookfield Renewable Energy, G Mining Ventures, Endeavour Silver, Baytex Energy Corp, Vermilion Energy, Ivanhoe Mines, ATS Corporation and Ssr Mining are down 2.7 to 4%.

International Petroleum, Imperial Oil, CES Energy, Cenovus Energy, Pan American Silver Corp, IamGold Corp, Nutrien and Eldorado Gold are also notably lower.

MDA Space is gaining about 3.75%. Celestica Inc. is up 3.2% and Toronto-Dominion Bank is climbing up 2.7%. Novagold is up nearly 2%.

Aecon Group, Ngex Minerals, Transcontinental, Air Canada, Shopify, Superior Plus Corp, BlackBerry, Toromont Industries and B2Gold Corp are up 1 to 1.7%.