After opening notably lower and sliding further down south Tuesday morning, the Canadian stock market regained a substantial portion of lost ground as the session progressed.
Healthcare and information technology stocks are finding support. A few stocks from consumer discretionary and energy sections are also moving higher, while materials shares are weak. Financial, industrial and consumer staples shares are turning in a mixed performance.
The benchmark S&P/TSX Composite Index, which tumbled to 18,606.57, losing more than 110 points in the process, was down just 11.41 points or 0.06% at 18,707.81 about half an hour past noon.
In the materials section, B2Gold Corp (BTO.TO) is down more than 6%. Kirkland Lake Gold (KL.TO), New Gold (NGD.TO), Novagold (NG.TO), Ssr Mining (SSRM.TO), Iamgold Corp (IMG.TO), Silvercrest Metals (SIL.TO), Kinross Gold Corp (K.TO), Barrick Gold Corp (ABX.TO) and Yamana Gold (YRI.TO) are down 2 to 5%.
Among healthcare stocks, Aphria Inc. (APHA.TO) is rising 2.3%. Aurinia Pharmaceuticals (AUP.TO), Cronos Group (CRON.TO), Trillium Therapeutics (TRIL.TO), Bausch Health Companies (BHC.TO) and Canopy Growth Corp (WEED.TO) are gaining 1.3 to 2%.
Consumer discretionary shares Magna International (MG.TO), Linamar Corp (LNR.TO) and Spin Master Corp (TOY.TO) are up 2.6%, 1.6% and 1.3%, respectively.
Energy stocks Parex Resources (PXT.TO), Enerplus Corp (ERF.TO), Whitecap Resources (WCP.TO), MEG Energy (MEG.TO) and Crescent Point Energy (CPG.TO) are down 0.5 to 1.1%. Seven Generations Energy (VII.TO) and Tourmaline Oil Corp (TOU.TO) are up 1.8% and 1.7%, respectively.
Data from Statistics Canada showed average weekly earnings of non-farm payroll employees in Canada grew 8.3% year-on-year to C$ 1,135 in January, following an upwardly revised 6.9% rise in December.
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