Canadian Stocks Climb Well Off Worst Levels, Close Nearly Flat

(RTTNews) - After turning lower over the course of morning trading on Tuesday, Canadian stocks showed a notable recovery in the afternoon.

The benchmark S&P/TSX Composite Index climbed well off its worst levels of the day, ending the session down just 9.16 points or 0.1 percent at 16,617.48.

The recovery by the market came as materials stocks showed a notable rebound after leading the way lower in morning trading.

The S&P/TSX Capped Materials Index still ended the day down by 0.8 percent but was down by more than 2 percent earlier in the day.

Meanwhile, considerable weakness remained visible among consumer staples stocks, as reflected by the 1.2 percent drop by the S&P/TSX Capped Consumer Staples Index.

The other major sectors ended the day showing only modest moves, contributing to the roughly flat close by the broader market.

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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