Canadian Market Roughly Flat At Noon

The Canadian market is down marginally a little past noon on Tuesday with stocks turning in a mixed performance, ahead of some crucial Canadian and U.S. economic data due this week. Investors are also reacting to earnings updates from major banks.

The benchmark S&P/TSX Composite Index is down 1.19 points at 21,323.12 a few minutes past noon.

Bank of Nova Scotia (BNS.TO) is gaining 3.2%. The bank reported first quarter net income of $2,199 million compared to $1,758 million in the same period last year. Diluted earnings per share (EPS) were $1.68, compared to $1.35 in the same period a year ago.

Bank of Montreal (BMO.TO) is down nearly 4%. The bank reported first-quarter net income of C$1.29 billion or C$1.73 per share, sharply higher than C$133 million or C$0.14 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was C$1.89 billion or C$2.56 per share, compared to C$2.16 billion or C$3.06 per share in the year-ago quarter.

Laurentian Bank (LB.TO) and CDN Western Bank (CWB.TO) are gaining 3% and 1.8%, respectively. Nuvei Corp (NVEI.TO) is advancing 4.3%.

Healthcare stock Tilray Inc (TLRY.TO) is gaining 2.5%, and Bausch Health Companies (BHC.TO) is rising nearly 1%.

Technology stocks BlackBerry (BB.TO) and Docebo Inc (DCBO.TO) are up 4% and 3.25%, respectively. Converge Technology Solutions (CTS.TO), Softchoice Corp (SFTC.TO), Hut 8 Corp (HUT.TO), Open Text Corp (OTEX.TO) and Coveo Solutions (CVO.TO) are up 1.3 to 2.7%.

Industrials shares Ballard Power Systems (BLDP.TO) and Cargojet (CJT.TO) are climbing 4.8% and 3%, respectively. Badger Infrastructure (BDGI.TO), Snc-Lavalin (ATRL.TO), Finning International (FTT.TO) and Air Canada (AC.TO) are up 1.3 to 2.1%.

For comments and feedback contact: editorial@rttnews.com