Canadian Stocks Turning In Mixed Performance After Inflation Data

(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with investors digesting the nation's inflation data and reacting to the latest news about the ongoing conflict in the Middle East.

The benchmark S&P/TSX Composite Index is down 70.22 points or 0.2% at 35,193.63 nearly half an hour past noon.

Technology stocks are back in demand, following strong buying in the tech sector on Wall Street. Energy and materials stocks are finding good support, while financials and healthcare stocks are weak.

The Information Technology Capped Index is up more than 2%. Shopify Inc., up 3.8%, tops the list of gainers. Celestica Inc is close on the heels with a 3.7% gain. Computer Modelling and Lightspeed Commerce are up 2.2% and 2%, respectively. CGI Inc is up nearly 1%.

Among energy stocks, Ces Energy Solutions, Cenovus Energy and Kelt Exploration are gaining 1.7%-2%. Suncor Energy, Paramount Resources and Baytex Energy are up with moderate gains.

In the materials sector, Ero Copper is up 4.5%. Trekor Metals, Lundin Mining, Vizsla Silver Corp., Hudbay Minerals, 5N Plus, Ngex Minerals, Seabridge Gold and Novagold are gaining 2.5%-3.6%.

Healthcare stock Bausch Health Companies is down more than 2%. Sienna Senior Living and Extendicare are down 0.9% and 0.8%, respectively. Curaleaf Holdings is lower by about 0.5%.

Among financials shares, Bank of Nova Scotia, National Bank of Canada, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Montreal and Toronto-Dominion Bank are down 1.3%-2%.

Data from Statistics Canada showed the headline inflation rate in Canada fell to 2.8% in June from the over-two-year high of 3.2% in the previous month. Inflation was expected to drop to 2.9% in June.

Core consumer prices in Canada increased 0.1% June, following a 0.6% rise in May.