Canadian Market Modestly Higher In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance on Tuesday with investors looking ahead to some crucial economic updates for clues about the outlook for interest rates.

Materials shares are up thanks to firm bullion prices. Real estate and communications shares are among the other notable gainers. Healthcare stocks are weak, while shares from the rest of the sectors are mostly subdued.

The benchmark S&P/TSX Composite Index is up 44.95 points or 0.2% at 22,305.25 a little before noon.

Tilray Inc (TLRY.TO) is plunging nearly 21% after the company reported wider than expected quarterly loss. Weak revenue guidance is weighing as well on the stock.

Bausch Health Companies (BHC.TO) is down 3.2%, while Chartwell Retirement Residences (SIA.TO) and Sienna Senior Living Inc (SIA.TO) are up 0.3% and 0.75%, respectively.

In the materials section, Hudbay Minerals (HBM.TO) is up nearly 8%. Pan American Silver Corp (PAAS.TO), First Quantum Minerals (FM.TO), Teck Resources (TECK.B.TO), Interfor Corp (IFP.TO), Silvercrest Metals (SIL.TO) New Gold (NGD.TO) and Ero Copper (ERO.TO) are down 3.3 to 5.5%.

Northwest Healthcare Properties (NWH.UN.TO), up 5.5%, is the top gainer in the Real Estate Index. H&R Real Estate (HR.UN.TO), Allied Properties Real Estate (AP.UN.TO) and Colliers International (CIGI.TO) are up 2 to 2.2%.

Cogeco Communications (CCA.TO), up 1.4%, is the top gainer in the Communications Index. Telus Corp (T.TO) and BCE Inc (BCE.TO) are up 1% and 0.7%, respectively.

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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