Canadian Stocks Mixed In Cautious Trade
(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with investors tracking commodity prices and looking ahead to earnings updates from major banks, in addition to following the developments on the geopolitical front.
The collapse of U.S.-Canada trade talks, and the Canadian Prime Minister Carney's comments that he would match US tariffs, which indicate a prolonged trade dispute between the two nations appeared to be weighing on sentiment.
Consumer staples, materials, communications and technology stocks are among the notable gainers, while industrials, energy and consumer discretionary stocks are weak. Bank stocks are somewhat subdued ahead of earnings announcements.
The benchmark S&P/TSX Composite Index, which climbed to 36,731.45 after a weak start, was down 14.80 points or 0.04% at 36,605.43 about half an hour past noon.
Consumer staples stocks Weston George, Loblaw and Metro are up 1%-1.7%. Communications stocks Quebecor and BCE are gaining 1.5% and 1.3%, respectively.
In the materials sector, Novagold is rising 8.5%. Seabridge Gold and I 80 Gold Corp are gaining 7% and 5.3%, respectively. Iamgold, OR Royalties, B2Gold Corp., Endeavour Silver Corp., Lundin Gold, Discovery Mining and Ssr Mining are up 2%-3.5%.
Tech stocks Descartes Systems Group, Constellation Software, Open Text Corporation and Shopify are gaining 1%-1.7%.
Bombardier, down 7%, is the biggest losers in the industrials sector. Tfi International, Hammond Power Solutions, Nfi Group, Mda Space, AtkinsRealis, Toromont Industries, RB Global and Cae are down 1.6%-4%.
Energy stocks Spartan Delta Corp., Athabasca Oil Corp., Eerflex, Parex Resources, Ces Energy Solutions and Whitecap Resources are losing 2%-5%.
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