TSX Pares Early Gains; Energy Stocks Stay Firm

RTTNews | 7 hari yang lalu

(RTTNews) - After opening marginally higher and moving further up fairly swiftly Friday morning, Canadian stocks slid gradually and slipped into negative territory, weighed down by losses in technology sector. Strong buying in energy and consumer staples sectors help limit market's downside.

Easing concerns about inflation contributed to the firm start.

The benchmark S&P/TSX Composite Index, which moved up to 36,462.46 in early trades, was down 85.63 points or 0.24% at 36,051.47 a little while ago.

The Energy Capped Index is up nearly 2.5%. Strathcona Resources, International Petroleum Corporation, Vermilion Energy, Canadian Natural Resources, Parex Resources, Imperial Oil, Spartan Delta Corp., Baytex Energy, Cenovus Energy, Headwater Exploration, Paramount Resources and Prairiesky Royalty are up 2%-4%.

Consumer staples stocks Alimentation Couche-Tard and Metro climbed 1.8% and 1.5%, respectively. Maple Leaf Foods gained about 1%.

Among other gainers, Silvercorp Metals, TransCanada, Precision Drilling, AltaGas, Methanex, Nutrien, Fortis, Metro, Maple Leaf Foods, Hydro One and Dollarama moved up 1%-3%.

Technology stock BlackBerry slid nearly 7%. Shopify, Constellation Software, Kinaxis, Computer Modelling, Enghouse Systems, Celestica Inc., Lightspeed Commerce, Docebo and Descartes Systems drifted down 3%-5.2%.

Ballard Power Systems, Cameco, Hudbay Minerals, Canada Goose Holdings, Canfor, Real Matters, Teck Resources, First Quantum Minerals, Onex, TFI International and Gildan Activewear are among other notable losers.

In economic news, data from Canada Mortgage and Housing Corporation showed housing starts in Canada rose 3% month-over-month to a seasonally adjusted annual rate of 248,896 units in September, up from a revised 242,223 units in August and above market expectations of 232,500 units.

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EURUSD	1.1202	GBPUSD	1.3372
USDJPY	156.819	USDCAD	1.39976