Canadian Shares Turning In Mixed Performance In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance Wednesday morning, with investors largely making cautious moves ahead of some crucial economic data, including a report on U.S. inflation, due later in the week.
Worries about high interest rates and their likely impact on economic growth continue to weigh on sentiment.
The benchmark S&P/TSX Composite Index is up 1.78 or 0.01% at 18,218.46 about a quarter to noon. The index dropped to a low of 18,111.57 earlier in the session.
Consumer staples shares are notably higher. A few stocks from real estate and healthcare sections are also up with strong gains. Energy shares are a bit weak. Technology, financials and materials shares are mixed.
Cameco Corporation (CCO.TO) is plunging 16% on huge volumes. Cameco Corporation and Brookfield Renewable Partners (BEPC.TO), agreed to acquire Westinghouse Electric Company, nuclear services businesses, for the total enterprise value of $7.875 billion. Brookfield Renewable, with its institutional partners, will own a 51% interest in Westinghouse and Cameco will own 49%.
Athabasca Oil Corporation (ATH.TO), Baytex Energy (BTE.TO), MEG Energy (MEG.TO), Cenovus Energy (CVE.TO) and Crescent Point Energy (CPG.TO) are down 1.6 to 3%.
Shopify Inc (SHOP.TO) is gaining about 1.2% on strong volumes. The Shopify counter has clocked a volume of over 1.25 million shares so far in the session today.
Saputo Inc (SAP.TO), goeasy (GSY.TO), Loblaw Companies (L.TO), Alimentation Couche-Tard (ATD.TO), Metro Inc (MRU.TO), George Weston (WN.TO), Cargojet (CJT.TO) and Canadian Tire Corporation (CTC.A.TO) are gaining 1.5 to 3.4%.
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