Canadian Stocks Turning In Mixed Performance

(RTTNews) - Canadian stocks are turning in a mixed performance in largely cautious moves by investors amid lingering concerns about the ongoing conflict in the Middle East.

Technology stocks are up, while shares from energy, consumer discretionary and materials sectors are showing weakness.

The benchmark S&P/TSX Composite Index was down 37.58 points or 0.11% at 33.926.75 a little while ago.

Energy stocks are down, hurt by a fall in oil prices. Imperial Oil is down 4.7%, while Parex Resources, International Petroleum Corporation, Vermilion Energy, Baytex Energy and Suncor Energy are down 2%-3.1%.

Consumer discretionary stock Magna International is down 6%. Magna reported a loss of $12 million or $0.04 per share in its first quarter, compared to last year's profit of $146 million or $0.52 per share. Looking ahead for fiscal 2026, the company expects adjusted earnings per share in the range of $6.25 to $7.25.

Linamar Corp and BRP Inc. are down 3.1% and 1%, respectively. Pet Valu Holdings and Restaurant Brands International are also down in negative territory.

Among materials stocks Methanex is down 3.3%. Eldorado Corporation, Kinross Gold, B2Gold Corp., OceanaGold Corporation, Lithium Americas Corp., Ngex Minerals, Agnico Eagle Mines and Ero Copper are down 1.9%-3%.

Technology stocks Docebo is climbing up 7.5%. Shopify is up 4.3%. Sangoma Technologies, Kinaxis, Open Text Corporation, Enghouse Systems, Coveo Solutions, CGI and Descartes Systems Group are gaining 2%-3%.

Air Canada is down 1.4% despite turnaround results. The company reported a net income of C$48 million, or C$0.16 per share for the first quarter, compared with a net loss of C$102 million, or C$0.40 per share in the same period last year.

TC Energy Corporation is down by about 0.6%. The company reported net income attributable to common shares of C$899 million, or C$0.86 a share in the first quarter, compared to C$978 million, or C$0.94 a share, in the previous year.

Brookfield Renewable Partners reported first quarter net loss attributable to Unitholders of $229 million compared to a loss of $197 million, prior year. The stock is down marginally.

In economic news, data from S&P Global showed the S&P Global Canada Manufacturing PMI rose to 53.3 in April from 50.0 in March, marking the strongest improvement in business conditions since June 2022.