Canadian shares are turning in a mixed performance on Thursday with investors largely making cautious moves, digesting a slew of earnings announcements and amid worries about a surge in coronavirus cases in Asian countries.
Healthcare stocks are down sharply. Information technology and industrial shares are also weak, while materials shares are up with strong gains. Consumer staples are finding some support, while energy, telecom and financial shares are mostly subdued.
The benchmark S&P/TSX Composite Index is down 28.52 points or 0.16% at 19.282.22 about an hour past noon.
Healthcare stocks Trillium Therapeutics (TRIL.TO), Organigram Holdings (OGI.TO) and Aphria Inc (APHA.TO) are down 7.2%, 5.6% and 5.2%, respectively. Canopy Growth Corp (WEED.TO), Aurora Cannabis (ACB.TO), Cronos Group (CRON.TO) and Bausch Health Companies (BHC.TO) are also down sharply.
Information technology stocks Lightspeed Pos (LSPD.TO), Hut 8 Mining Corp (HUT.TO), Quarterhill Inc. (QTRH.TO), Shopify Inc (SHOP.TO), Tecys Inc (TCS.TO), Sierra Wireless (SW.TO) and Photon Control (PHO.TO) are down 2.5 to 5.2%. Descartes Systems (DSG.TO), BlackBerry (BB.TO) and Open Text Corp (OTEX.TO) are also down sharply. Kinaxis Inc (KXS.TO) is gaining 2.3% and Constellation Software (CSU.TO) is up 0.8%.
The Capped Materials Index is up 2.3%. Endeavour Silver Corp (EDR.TO) and Ssr Mining (SSRM.TO) both are up nearly 10%. First Majestic Silver Corp (FR.TO), New Gold (NGD.TO), Pan American Silver Corp (PAAS.TO), Silvercorp Metals (SVM.TO), MAG Silver Corp (MAG.TO), Yamana Gold (YRI.TO) and Eldorado Gold (ELD.TO) are gaining 5 to 7.2%.
Bombardier Inc. (BBD.A.TO) announced that it is on track to meet its target for the delivery of 110 to 120 aircraft this year as it reported its latest financial results. The company said it earned net income of nearly US$5.1 billion or $2.03 per diluted share in its first quarter, compared with a net loss of US$200 million or 11 cents per share in the same quarter last year. The stock is up 2.7%.
Magna International Inc (MG.TO) shares are up 2.3% after the company reported a 136% increase in quarterly net profit. The auto parts maker has also raised its full-year revenue outlook, citing strong demand for vehicles.
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