Canadian Stocks Mixed In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with the mood remaining cautious despite easing concerns about inflation following a sharp fall in oil prices.

Oil prices fell sharply today amid hopes for progress in diplomatic talks to ease tensions between Iran and the U.S.

Ahead of a crucial meeting between U.S. President Trump and Gulf-state leaders on the sidelines of the United Nations General Assembly, Trump warned Iran that it would fail economically or face its leadership being wiped out if it didn't make a deal.

Trump indicated potential for a meeting with Iranian President Masoud Pezeshkian in New York, adding that very big things could happen soon and he is in a "deciding mode" on military action, continued economic pressure or a deal.

Energy stocks are down, weighed down by weak oil prices. Materials stocks are weak as well, hurt by lower precious metals prices. Technology stocks are finding support amid renewed optimism surrounding Artificial Intelligence.

The benchmark S&P/TSX Composite Index was down 6.33 points or 0.02% at 35,800.32 a little while ago. The index had climbed to 25,965.28 earlier this morning.

Energy stocks Kelt Exploration, Parex Resources, Vermilion Energy, Paramount Resources, Headwater Exploration, Whitecap Resources, International Petroleum Corporation, Topaz Energy, Baytex Energy are down 2.5%-4.7%.

Among materials stocks, Montage Gold Corp., First Majestic Silver, I 80 Gold Corp., B2 Gold Corp., Pan American Silver Corp., Nutrient, Iamgold Corporation, OceanaGold Corporation, Wheaton Precious Metals and Equinox Gold Corporation are down 2%-4%.

Technology stocks BlackBerry and Celestica are gaining 5% and 4.1%, respectively. Firan Technology Group, Shopify, Open Text Corporation and Descartes Systems Group are up 1.3%-2.5%.

Candu Energy Inc., an AtkinsRéalis company (ATRL.TO), announced on Monday that it has signed $1.7 billion contract in joint venture with Aecon Group Inc. to refurbish Unit 5 of Ontario Power Generation's Pickering Nuclear Generating Station. Shares of AtkinsRealis are up by about 0.5%.

CAE Inc., an aerospace company, announced that it has secured a $300 million competitive recompete contract from the United States Air Force to continue delivering mission-critical C-130H aircrew training services. The stock is gaining about 4%.

The award extends CAE's role as the main contractor for the U.S. Air Force's C-130H Aircrew Training System through December 2035, continuing its partnership with the USAF for nearly 20 years.

Under the contract, CAE will provide training and support services for the C-130H system, including program management, instruction, maintenance, logistics, cybersecurity, and system upgrades.