Canadian Market Pares Early Gains in Cautious Trade

Macro
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Summary · why it matters

The Canadian market pared early gains on Friday, with the S&P/TSX Composite Index up just 11.91 points or 0.03% at 35,212.36 by midday, after climbing as high as 35,357.12 earlier in the session. Stronger-than-expected jobs data initially boosted sentiment, as employment rose by 18,000 jobs in June and the unemployment rate edged down to 6.5% from 6.6% in May, surpassing forecasts of a 10,000-job increase. However, worries over the U.S.-Iran conflict and its potential impact on growth and interest rates prompted investors to lighten commitments at higher levels. Gains were led by consumer durables and staples, with Aritzia, Finning International, and Gildan Activewear among stocks rising 1.5% to 3.2%, while BlackBerry and Ballard Power Systems fell 2% to 5%. A separate report showed building permits slumped 1.7% in May.

Impact on stocks 3

Information Technology▼ · 1 stocks
BlackBerry Ltd
BB
▼ Negativerelevance

Stock fell 2% to 5% amid cautious trade, no specific cause given.

Energy Transition & Power Demand▼ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Gildan Activewear Inc.
GIL
▲ Positiverelevance

Stock rose 1.5% to 3.2% as consumer durables and staples led gains, no specific cause given.

Off-coverage companies 2

Aritzia Inc.Private▲ Positive
relevance

Stock rose 1.5% to 3.2% as consumer durables and staples led gains, no specific cause given.

Finning International Inc.Private▲ Positive
relevance

Stock rose 1.5% to 3.2% as consumer durables and staples led gains, no specific cause given.

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