Canadian Stocks Mixed In Cautious Trade

After a weak start and a subsequent recovery, the Canadian market pared gains and is down slightly Friday afternoon with investors largely making cautious moves, awaiting the Federal Reserve’s monetary policy meeting next week.

The benchmark S&P/TSX Composite Index is up 5.40 points or 0.03% at 21,106.94. The index, which eased to 21,079.90 in early trades, advanced to 21,142.31 before paring gains.

Technology, communications and real estate stocks are among the prominent gainers, while energy and materials shares are wak.

EQB Inc (EQB.TO), Cogeco Communications (CCA.TO), Fairfax Financial Holdings (FFH.TO) and Shopify Inc (SHOP.TO) are gaining 1.5 to 2.5%.

WSP Global (WSP.TO), Kinaxis Inc (KXS.TO), Colliers International (CIGI.TO) and Constellation Software (CSU.TO) are up 0.8 to 1.2%.

Boralex Inc (BLX.TO) and Teck Resources (TECK.A.TO) are down 2.3% and 2.2%, respectively. George Weston (WN.TO), Docebo Inc (DCBO.TO), West Fraser Timber (WFG.TO), Stella-Jones (SJ.TO), Canadian Natural Resources (CNQ.TO), TFI International (TFII.TO) and Franco-Nevada Corporation (FNV.TO) are lower by 0.8 to 1.4%.

Data from Statistics Canada showed wholesales in Canada rose 0.8% month-on-month in December, after rising 0.9% in November, according to preliminary estimates.

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