The Canadian market is experiencing a downturn on Wednesday afternoon, affected by losses in the industrials, financials, and consumer staples sectors.
With U.S. markets closed in observance of the Juneteenth holiday and no major economic data influencing market movements, the market appears to lack clear direction.
The benchmark S&P/TSX Composite Index is down by 111.72 points, currently standing at 21,499.58, with about an hour left before the trading day ends.
Stantec Inc (STN.TO) has decreased by nearly 2%. Other notable declines include AtkinsRealis Group (ATRL.TO), WSP Global (WSP.TO), Tourmaline Oil Corp (TOU.TO), Canadian National Railway (CNR.TO), and Fairfax Financial Holdings (FFH.TO), all down between 1% and 1.7%.
Loblaw Companies Ltd (L.TO) saw a 0.6% drop in its stock price. The company recently announced the opening of its 16th small-format No Frills location in downtown Toronto. The food and pharmacy retailer also confirmed its plan to open 40 new stores this year and convert dozens more to its No Frills format.
On the positive side, Calian Group (CGY.TO), Celestica Inc (CLS.TO), Molson Coors Canada Inc (TPX.B.TO), and Morguard Corporation (MRC.TO) are showing gains between 1% and 1.3%.
