Canadian Market Modestly Higher In Cautious Trade

(RTTNews) - The Canadian market is exhibiting a mixed trend on Monday after six successive days of gains.

With the U.S. market closed today for Martin Luther King Jr. Day holiday, the volume of business in the Canadian market is somewhat thin.

The benchmark S&P/TSX Composite Index is up 55.34 points or 0.27% at 20,415.44.

The Health Care Capped Index is up 2.1%. Canopy Growth Corp (WEED.TO) is gaining 4.3%. Tilray Inc (TLRY.TO) is surging nearly 3%, Chartwell Retirement Residences (CSH.UN.TO) and Bausch Health Companies (BHC.TO) both are up 2.5%, while Sienna Senior Living (SIA.TO) is up 1.1%.

Technology stocks Hut 8 Mining Corp (HUT.TO) and Absolute Software Corp (ABST.TO) are up 16.5% and 8%, respectively. BlackBerry (BB.TO) is rising 6%, while Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO) and Coveo Solutions (CVO.TO) are up 3 to 3.6%.

Consumer staples shares Empire Company (EMP.A.TO), Loblaw Co (L.TO) and The North West Company (NWC.TO) are up 1.9%, 1.7% and 1.2%, respectively. Metro (MRU.TO) and Saputo (SAP.TO) are up with modest gains.

In economic news, manufacturing sales in Canada were flat from a month earlier in November of 2022, after a downwardly revised 2.4% rise in the prior month.