March 28, 2023

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Canadian Market Swinging Between Gains And Losses

1 min read

After a positive start and a subsequent recovery, the Canadian market drifted lower Friday morning. Despite staging a recovery again, the market dropped into the red again as investors stayed reluctant to make significant moves.

Materials and real estate stocks are among the major losers. Healthcare and utilities shares are also weak. Energy and technology stocks are finding some support, while stocks from rest of the sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index is down 21.16 points or 0.1% at 20,719.28. The index touched a low of 20,680.85 and 20,830.27.

Canada Goose Holdings (GOOS.TO) is surging nearly 15%. Methanex Corporation (MX.TO) is climbing 8%. Open Text Corporation (OTEX.TO), Ag Growth International (AFN.TO) and Gildan Activewear (GIL.TO) are gaining 3 to 5%.

Canopy Growth Corporation (WEED.TO) is down 6.5% on hug volumes. Hut 8 Mining Corp (HUT.TO), Lightspeed Commerce (LSPD.TO), Barrick Gold Corporation (ABX.TO), Kinross Gold Corporation (K.TO) and B2Gold Corp (BTO.TO) are down 2.5 to 6%.

Agnico Eagle Mines (AEM.TO) is declining 3.7%. Fairfax Financial Holdings (FFH.TO) is down 2.7%, while Franco-Nevada Corporation (FNV.TO), West Fraser Timber (WFG.TO) and WSP Global (WSP.TO) are down 1.9 to 2.2%.

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2023-02-03 14:44:35

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