Canadian shares are showing varied performance early Tuesday as traders look forward to key financial updates that could impact predictions for future interest rates.
Shares in materials are benefitting from solid gold prices, with real estate and communications also becoming notable winners. Meanwhile, healthcare stocks are underperforming, and the majority of the other sectors are somewhat restrained.
Just before noon, the benchmark S&P/TSX Composite Index had increased by 44.95 points or 0.2%, reaching 22,305.25.
Shares in Tilray Inc (TLRY.TO) have taken a significant hit, dropping close to 21% in value. This follows the company's report of a larger than anticipated quarterly loss and a less than inspiring revenue guidance also hindering the stock.
Bausch Health Companies (BHC.TO) has dropped by 3.2%, while both Chartwell Retirement Residences (SIA.TO) and Sienna Senior Living Inc (SIA.TO) are up 0.3% and 0.75% correspondingly.
In the materials sector, Hudbay Minerals (HBM.TO) has made significant gains with an almost 8% increase. On the other side, Pan American Silver Corp (PAAS.TO), First Quantum Minerals (FM.TO), Teck Resources (TECK.B.TO), Interfor Corp (IFP.TO), Silvercrest Metals (SIL.TO) New Gold (NGD.TO), and Ero Copper (ERO.TO) have fallen by between 3.3% and 5.5%.
In the real estate sector, Northwest Healthcare Properties (NWH.UN.TO) has made notable gains with a 5.5% increase. Shares in H&R Real Estate (HR.UN.TO), Allied Properties Real Estate (AP.UN.TO), and Colliers International (CIGI.TO) have all increased by between 2% and 2.2%.
In the communications sector, Cogeco Communications (CCA.TO) leads with a 1.4% increase, while Telus Corp (T.TO) and BCE Inc (BCE.TO) have both increased by 1% and 0.7% respectively.
