Canadian Market Modestly Lower
(RTTNews) - The Canadian market remains in negative territory Tuesday afternoon with stocks from energy, communications and healthcare sectors under pressure. Technology stocks are finding some support amid renewed optimism about spending on AI infrastructure.
Despite oil's retreat, the mood remains cautious due to uncertainty about U.S. and Iran reaching a deal anytime soon to end their conflict and reopen the Strait of Hormuz.
The benchmark S&P/TSX Composite Index was down 95.43 points or 0.27% at 35,394.43 a little while ago.
Technology stock Sangoma Technologies Corporation zoomed nearly 39%. Shopify and Celestica gained about 2.1% and 1.8%, respectively.
Energy stocks Enerflex, International Petroleum Corporation, Terravest Industries, Advantage Energy, Parex Resources, Kelt Exploration, Suncor Energy, Vemilion Energy, Paramount Resources, Topaz Energy and Peyto Exploration & Development lost 1.6%-3%.
Communications stocks Quebecor, Telus Corporation and BCE lost 3%, 2% and 1.5%, respectively.
Healthcare stocks Extendicare and Sienna Senior Living shed 1.4% and 1.3%, respectively. Bausch Health Companies and Chartwell Retirement Residences posted modest losses.
On the economic front, the Canadian GDP is expected to have expanded by 0.2% from the previous month in August, according to a flash estimate.
