TSX Recovers After Fall From Higher Levels, Up Marginally

(RTTNews) - The Canadian market, which tumbled into negative territory after a good upmove Tuesday morning, recovered subsequently and was up slightly a little while ago with stocks turning in a mixed performance.

Energy, communications and technology stocks gained ground, while industrials stocks tumbled. A few stocks from consumer staples and utilities sectors moved notably higher.

The benchmark S&P/TSX Composite Index, which dropped to 35,076.00 from an early high of 35,414.64, was up 55.88 points or 0.16% at 35,268.20 a little while ago.

Open Text Corporation moved up 4.3%. Thomson Reuters, Constellation Software, Paramount Resources, Shopify, Rogers Communications, Arc Resources, Baytex Energy, TransAlta, Kinaxis, Precision Drilling, Cenovus Energy, Imperial Oil, Enbridge, Whitecap Resources, CGI and Vemilion Energy gained 2.5%-3.4%.

Waste Connections, Suncor Energy, AltaGas, Telus, Bausch Health Companies, Tfi International, TransCanada, Gibson Energy and Loblaw Companies also moved up sharply.

Hudbay Minerals, Ballard Power Systems, Aecon, Silvercorp Metals, NexGen Energy, NovaGold Resources, First Quantum Minerals, Ivanhoe Mines, First Majestic Silver, Teck Resources, OceanaGold, Torex Gold Resources, Brookfield Business Partners, Equinox Gold, Iamgold, Transcontinental, Endeavour Mining and Stantec declined sharply.

In economic news, Canada posted a trade surplus of C$4.24 billion in May, picking up from an upwardly revised C$3.41 billion surplus in the previous month and above market expectations of a C$2.9 billion to mark a third consecutive positive balance of trade.

Exports rose by 0.9% to a record high of $77.1 billion, a fourth consecutive increase. Imports fell by 0.2% from the record high last month to $72.9 billion, data from Statistics Canada showed.

A report from Ivey Business School showed Canada's Ivey PMI fell to 56.2 in June from 58.2 in the previous month, missing market expectations of 59.1.