Canadian Stocks Turning In Mixed Performance In Cautious Trade

(RTTNews) - The Canadian stock market is turning in a mixed performance on Monday with investors largely making cautious moves amid uncertainty about the near term outlook for the market as central banks look set to tighten their monetary policies.

Technology, industrials and consumer stocks are a bit weak, while shares from materials sector are faring reasonably well. Financial, healthcare and energy stocks are mostly subdued.

The benchmark S&P/TSX Composite Index is down 80.52 points or about 0.4% at 21,191.33 a few minutes past noon. The index had earlier slipped to 21,177.72 after advancing to 21,327.69.

Technology stocks Celestica Inc (CLS.TO) and Open Text Corp (OTEX.TO) are down 2.8% and 2.25%, respectively. Evertz Technologies (ET.TO), Alithya Group (ALYA.TO), Shopify Inc (SHOP.TO), Descartes Systems (DSG.TO), BlackBerry (BB.TO), Constellation Software (CSU.TO) and CGI Inc (GIB.A.TO) are down 1 to 1.7%.

Consumer discretionary stocks Sleep Country Canada Holdings (ZZZ.TO), Gildan Activewear (GIL.TO), Martinrea International (MRE.TO) and Linamar Corp (LNR.TO) are lower by 1 to 2.5%.

In the consumer staples section, Saputo Inc (SAP.TO) and Metro Inc (MRU.TO) both are down by about 1.5%. Weston George (WN.TO) is down 1.2% and Loblaw (L.TO) is declining nearly 1%.

Ballard Power Systems (BLDP.TO), down 4.7%, is the most prominent loser in the industrials section. Ats Automation (ATA.TO) and WSP Global (WSP.TO) are declining 3% and 2.7%, respectively, while Aecon Group (ARE.TO), Tfi International (TFII.TO), Ritchie Bros Auctioneers (RBA.TO), Toromont Industries (TIH.TO) and Canadian National Railway (CNR.TO) are down 1 to 2%.

Alamos Gold (AGI.TO), Fortuna Silver Mines (FVI.TO) and Iamgold (IMG.TO) are up 5.3 to 6%. New Gold (NGD.TO), K92 Mining (KNT.TO), Endeavour Silver Corp (EDR.TO), MAG Silver (MAG.TO), First Majestic (FR.TO) and Interfor Corp (IFP.TO), gaining between 4 and 5%, are among the other major gainers in the materials section.