Canadian Stocks Turning In Mixed Performance
(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with investors largely making cautious moves, continuing to react to quarterly earnings and data on Canadian manufacturing activity.
Industrials and consumer discretionary stocks are among the notable gainers. Energy stocks are weak, weighed down by lower crude oil prices.
The benchmark S&P/TSX Composite Index is up 69.53 points or 0.34% at 20,706.07 about half an hour past noon.
On the economic front, data released by Markit Economics shows the S&P Global Manunfacturing PMI rose to 50.2 in April 2023, pointing to a marginal expansion in the manufacturing sector after posting a near three-year low of 48.6 in the previous month.
The report said employment growth accelerated in April, reaching the highest level since June 2022.
Cargojet Inc. (CJT.TO) shares are up more than 5% on strong results. The company reported a net income for $30.5 million for the quarter ended March 31, 2023, compared to a net loss of $56.4 million in the year-ago quarter.
Ivanhoe Mines (IVN.TO) and Air Canada (AC.TO) are up 2.6% and 2.3%, respectively, on strong volumes.
Tecsys (TCS.TO) is up nearly 6%, Bombardier Inc (BBD.B.TO) is gaining 4.7%, CCL Industries (CCL.A.TO) is up 2.3% and BRP Inc (DOO.TO) is rising 2.1%. TFI International (TFII.TO), Canadian National Railway (CNR.TO), WSP Global (WSP.TO) and Kinaxis Inc (KXS.TO) are up 1 to 1.8%.
Rogers Communications Inc (RCI.A.TO), Docebo Inc (DCBO.TO), Precision Drilling (PD.TO), Hut 8 Mining Corp (HUT.TO) and Crescent Point Energy (CPG.TO) are down sharply.
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