Markets

Canadian Shares Turning In Mixed Performance In Cautious Trade

(RTTNews) - Canadian shares are turning in a mixed performance Tuesday morning with investors making cautious moves as they look for direction.

Financial shares are weak, while shares from healthcare and energy sections are finding support. Information technology, materials and industrial shares are mixed.

The continued surge in coronavirus cases in the U.S., Europe and several other parts of the world, and worries about economic growth weigh on sentiment.

The benchmark S&P/TSX Composite Index is down 22.81 points or 0.14% at 16,056.74. The index touched a low of 16,040.18 and a high of 16,104.59 this morning.

In the financial section, Manulife Financial (MFC.TO) is down more than 2%. Bank of Nova Scotia (BNS.TO), CDN Western Bank (CWB.TO), Sun Life Financial (SLF.TO), Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Canadian Imperial Bank of Commerce (CM.TO) and National Bank of Canada (NA.TO) are up 1 to 1.5%.

Healthcare stocks Canopy Growth Corp (WEED.TO) and Aphria Inc. (APHA.TO) are both gaining about 3%. Cronos Group (CRON.TO) is gaining 2%, while Bausch Health Companies (BHC.TO) and Aurinia Pharmaceuticals (AUP.TO) are up 1.2% and 1%, respectively.

Among the stocks in the energy space, Cenovus Energy (CVE.TO), Husky Energy (HSE.TO) and MEG Energy (MEG.TO) are up 3.7 to 4%. PrairieSky Royalty (PSK.TO) is gaining 2.5% and Arc Resources (ARX.TO) is moving up 1%.

In the materials section, MAG Silver Corp (MAG.TO) is rising 2.6%. Canfor Corp (CFP.TO), Teranga Gold Corp (TGZ.TO), B2Gold Corp (BTO.TO), Fortuna Silver Mines (FVI.TO) and Pretium Resources (PVG.TO) are gaining 1.3 to 2%.

Teck Resources (TECK.B.TO) is declining 3.75%. The company reported third quarter adjusted earnings per share of C$0.24 compared to C$0.69, a year ago. Adjusted EBITDA declined to C$638 million from C$1.06 billion, while revenues dropped to C$2.29 billion from C$3.03 billion.

Hudbay Minerals (HBM.TO) and Ero Copper (ERO.TO) are down 2% and 1.7%, respectively. Ccl Industries (CCL.B.TO) is declining 1.2%.

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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