Canadian Stocks Recover After Fall From Higher Levels
(RTTNews) - The Canadian market is down marginally around noon on Friday, weighed down by losses in materials stocks. Financials stocks started off on a weak note, but have regained some lost ground.
Energy and technology stocks are among the notable gainers. Shares from rest of the sectors are turning in a mixed performance.
The benchmark S&P/TSX Composite Index, which advanced to 20,762.95 in early trades, dropped to a low of 20,621.91 before paring some losses. The index is down 5.27 points at 20,695.23 a little before noon.
Fortuna Silver Mines Inc (FVI.TO), down 5%, is the biggest loser in the materials sector. MAG Silver Corp (MAG.TO), Endeavour Silver Corp (EDR.TO), Equinox Gold Corp (EQX.TO), Ivanhoe Mines (IVN.TO), First Majestic Silver Corp (FR.TO), Novagold (NG.TO), Kinross Gold Corp (K.TO) and K92 Mining Inc (KNT.TO) are down 2 to 4.7%.
Fairfax Financial Holdings (FFH.TO), down 2.4%, and Bank of Montreal (BMO.TO), down 1.4%, are the prominent losers in the financials sector. Onex Corp (ONEX.TO) and Manulife Financial (MFC.TO) are also notably lower.
In the energy sector, MEG Energy (MEG.TO) and Nuvista Energy (NVA.TO) are up 4% and 3.2%, respectively. Arc Resources (ARX.TO), Canadian Natural Resources (CNQ.TO), Birchcliff Energy (BIR.TO), Whitecap Resources (WCP.TO) and Cenovus Energy (CVE.TO) are gaining 1.8 to 2.3%.
Technology stocks Softchoice Corp (SFTC.TO) and Lightspeed Commerce (LSPD.TO) are up 3.1% and 2.7%, respectively. Converge Technology Solutions (CTS.TO), Quarterhill (QTRH.TO), Celestica Inc (CLS.TO), Shopify Inc (SHOP.TO), Constellation Software (CSU.TO), Telus International (TIXT.TO), Nuvei Corp (NVEI.TO) and Evertz Technologies (ET.TO) are up 1 to 2%.
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