Markets

Canadian Market In Negative Territory In Cautious Trade

(RTTNews) - The Canadian market is down in negative territory about an hour past noon on Monday, dragged down by losses in information technology, industrials and healthcare sections.

The mood remains a bit bearish in the market amid lingering worries about the spread of the delta variant of the coronavirus and its impact on global economic recovery.

Investors are also looking ahead to the Federal Reserve's monetary policy, scheduled to be announced on Wednesday.

The benchmark S&P/TSX Composite Index is down 58.37 points or 0.29% at 20,130.06 nearly an hour past noon.

Technology stocks Shopify Inc (SHOP.TO) and BlackBerry (BB.TO) are down 3.3% and 2.1%, respectively. Decartes Systems (DSG.TO), CGI Group Inc (GIB.A.TO), Open Text Corp (OTEX.TO), Enghouse Systems (ENGH.TO) and Constellation Software (CSU.TO) are down 1 to 1.4%.

Hut 8 Mining Corp (HUT.TO) is soaring 20%. Alithya Group (ALYA.TO) is gaining nearly 3%. Evertz Technologies (ET.TO), Celestica Inc (CLS.TO), Quarterhill Inc. (QTRH.TO) and Sierra Wireless (SW.TO) are up 1 to 1.5%.

Among industrials shares, Aecon Group (ARE.TO), Westshore Terminals Investment Corp (WTE.TO), Ballard Power Systems (BLDP.TO), Canadian Pacific Railway (CP.TO), Ritchie Bros Auctioneers (RBA.TO), Cae Inc (CAE.TO), Gfl International (GFL.TO), Canadian National Railway (CNR.TO) and Snc-Lavalin (SNC.TO) are down 1 to 2.3%.

Transcontinental Inc (TCL.A.TO) and Boyd Group Services (BYD.TO) are gaining 1.2% and 1.1%, respectively. Badger Infrastructure Solutions (BDGI.TO) is up nearly 1%.

Healthcare stocks Trillium Therapeutics (TRIL.TO) and Aurinia Pharmaceuticals (AUP.TO) are down 4.8% and 3.6%, respectively. Sienna Senior Living Inc (SIA.TO) is down nearly 2% and Tilray Inc (TLRY.TO) is lower by about 1.4%, while Organigram Holdings (OGI.TO) is rising 3.25%.

Franco-Nevada Corporation (FNV.TO) is gaining 3.5%, Cnooc Limited (CNU.TO) is up 3.3%, Agnico Eagle Mines (AEM.TO) is up 2.8% and Brp Inc (DOO.TO) is surging up 1.75%.

Pembina Pipeline Corp. (PBL.TO) announced Monday that it has terminated the arrangement agreement with Inter Pipeline Ltd. (IPL.TO) providing for the proposed acquisition by Pembina of Inter Pipeline, in accordance with its terms. Following this, Inter Pipeline has agreed to pay Pembina the C$350 million termination fee provided for in the agreement. Pemibina Pipeline Corp shares are up nearly 4%, while Inter Pipeline Ltd shares are down 1.1%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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