(RTTNews) - Canadian equity benchmark S&P/TSX Composite Index is up marginally a little past noon on Friday with stocks turning in a mixed performance in largely cautious moves by investors.
Energy and industrials stocks are finding some support, while technology, materials and consumer discretionary stocks are showing weakness.
Positive developments on Canada-China trade front aid sentiment.
Canadian Prime Minister Mark Carney has secured an initial trade deal with China, according to which the two nations will cut tariffs on electric vehicles and canola, Carney said. The two nations have also promised to tear down trade barriers and work on new strategic ties.
The S&P/TSX Composite Index is up 6.51 points or 0.02% at 33,035.43 about a quarter past noon. The index, which dropped to a low of 32,859.84 in early trades, advanced to 33,073.46 subsequently before easing a bit.
Headwater Exploration is gaining about 5% after the company delivered 12% year-over-year production per share growth, strong cash flow and capital spending that reinforced its financial strength.
International Petroleum Corp is rising 2.7%, while Parex Resources, Prairiesky Royalty, Tamarack Valley Energy, Imperial Oil, Suncor Energy and Vermilion Energy are up 1.3 to 2.4%.
Industrials stock Mda is soaring over 13%. Richelieu Hardware is rising 5.7%, while Finning International, Exchange Income, Badger Infrastructure and Bombardier are gaining 2 to 3%.
Among technology stocks, Dye & Durham is tanking more than 10%. Blackline Safety Corp and Constellation Software are down 5% and 3.5%, respectively. Open Text Corp. and Tecsys are also notably lower.
Ivanhoe Mines, Ssr Mining, Aya Gold & Silver, Equinox Gold, Endeavour Silver, First Quantum Minerals, Teck Resources and Pan American Silver Corp are among the major losers in the materials sector.
In economic news, data from Canada Mortgage and Housing Corporation showed housing starts in Canada increased to 282,400 units in December from 254,600 in November.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
