Canadian Market Down Marginally In Cautious Trade
2024-07-18
1485
(fxcue news) - The Canadian market is down in negative territory a little past noon on Friday, weighed down by losses in communications, consumer discretionary and materials sectors.
The benchmark S&P/TSX Composite Index is down 10.22 points or 0.05% at 22,716.54 nearly half an hour past noon.
Data from Statistics Canada said retail sales in Canada are projected to have dropped by 0.3% from the previous month in June, according to an initial estimate. In May, retail sales plunged 0.8%, the sharpest decline in 14 months.
Industrial producer prices in Canada remained unchanged in June, following an upwardly revised 0.2% in the previous month. The Raw Materilas Price Index in Canada fell 1.4% month-over-month in June, following a downwardly revised 1.5% drop in the previous month.
Magna International (MG.TO) is down nearly 4%. Sleep Country Canada Holdings (ZZZ.TO) is down 2.4%, while Ag Growth Corporation (AFN.TO), Franco-Nevada Corporation (FNV.TO), Methanex Corp (MX.TO) and Nutrien (NTR.TO) are lower by 1 to 1.25%.
Hut 8 Corp (HUT.TO) is rising 6.5%. Onex Corporation (ONEX.TO), Metro Inc (MRU.TO), Bombardier Inc (BBD.B.TO), Cargojet (CJT.TO), goeasy (GSY.TO), Colliers International (CIGI.TO) and Loblaw Companies (L.TO) are gaining 1 to 2%.
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