Canadian Stocks Turning In Mixed Performance

(RTTNews) - Canadian shares are turning in a mixed performance Friday afternoon and look headed for a somewhat mute close.

The mood is cautious amid concerns about the outlook for U.S. interest rates and economic slowdown in China.

The Labor Department's data showing a bigger than expected increase in U.S. Producer Price Inflation has raised concerns the Federal Reserve will likely keep interest rates higher for longer duration.

The benchmark S&P/TSX Composite Index is up 47.87 points or 0.25% at 20,390.75.

Healthcare stocks are up, bouncing back from recent losses. A few stocks from communications, real estate, materials and energy sectors are also up with notable gains.

Consumer discretionary, technology and utilities shares are weak.

Air Canada (AC.TO) is climbing 2.6%. The company reported adjusted net income of $838 million for the second quarter of this financial year, as against net loss of $386 milion in the year-ago quarter.

Baytex Energy (BTE.TO), Athabasca Oil Corp (ATH.TO), Cenovus Energy (CVE.TO) and B2Gold Corp (BTO.TO) are up 1 to 2%.

Boralex Inc. (BLX.TO) is down 5%. Canadian Tire Corporation (CTC.A.TO) is lower by 4%. Shopify Inc (SHOP.TO), Boyd Group Services (BYD.TO), Teck Resources (TECK.A.TO), Magna International (MG.TO), EQB Inc (EQB.TO) and Linamar Corporation (LNR.TO) are down 1.3 to 2.6%.

Emera Inc. (EMA.TO) reported second-quarter net income of $28 million, or $0.10 per common share, compared with a net loss of $67 million, or $0.25 per common share, in the second quarter of the previous financial year. The stock is down 0.6%.

Power Corporation of Canada (POW.TO) reported adjusted net earnings of $847 million, or $1.27 per share for the second quarter, compared with $647 million or $0.97 per share in the year-ago quarter. The stock is up marginally.