The Canadian stock market appears poised for a sluggish finish on Tuesday, as numerous stocks within the technology, healthcare, and real estate sectors experience continued selling pressure. Investor sentiment remains cautious as market participants anticipate the upcoming monetary policy announcement from the Canadian central bank alongside key U.S. consumer price inflation data.
Currently, the S&P/TSX Composite Index has slipped by 60.60 points, representing a 0.24% decline, settling at 25,564.82.
Hut 8 Corp (HUT.TO) has seen a drop of over 6%, with Torex Gold Resources (TXG.TO), Telesat Corporation (TSAT.TO), Spin Master Corp (TOY.TO), Lundin Gold (LUG.TO), and Capital Power Corporation (CPX.TO) all experiencing declines between 3% and 5%.
Shares of Richelieu Hardware (RCH.TO), EQB Inc (EQB.TO), Boyd Group Services (BYD.TO), Cameco Corporation (CCO.TO), AtkinsRealis (ATRL.TO), and BRP Inc (DOO.TO) are down by 1% to 2.7%.
North West Company Inc (NWC.TO) has fallen nearly 3% following the announcement of its third-quarter fiscal 2024 net earnings, which were recorded at $36.4 million. This marks a 4.3% decrease from the $38.0 million reported in the same quarter of the previous year.
On a more positive note, SSR Mining (SSRM.TO) has surged by 6.3%, with Wesdome Gold Mines (WDO.TO) gaining approximately 4%. Other stocks showing upward momentum include Docebo Inc (DCBO.TO), Bausch + Lomb Corporation (BLCO.TO), Sprott Inc (SII.TO), Tescys Inc (TCS.TO), Boralex (BLX.TO), Imperial Oil (IMO.TO), Canadian Utilities (CU.TO), and Dollarama Inc (DOL.TO), all registering gains ranging from 1.2% to 3%.
