Canadian Market Slightly Lower In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance on Wednesday with investors largely reacting to earnings announcements, and U.S. economic data.

Materials stocks are among the notable losers, while consumer staples and utilities shares are finding good support.

The benchmark S&P/TSX Composite Index is down 58.56 points or 0.25% at 24,503.99.

Secure Energy Services (SES.TO) is soaring 11.5% after reporting a net income of $94 million for the third-quarter this year, compared with $47 million in the year-ago quarter.

Capital Power Corporation (CPX.TO) is climbing 8.3% after the company reported net income of $178 million for the quarter ended September 30, 2024, compared with $272 million in the year-ago quarter.

Precision Drilling Corporation (PD.TO) is rising 8.5%. Hut 8 Corp (HUT.TO), Propel Holdings (PRL.TO) and goeasy (GSY.TO) are up 3.5 to 6%.

Metro Inc (MRU.TO), Loblaw Companies (L.TO), TerraVest Industries (TVK.TO), EQB Inc (EQB.TO), Kinaxis Inc (KXS.TO) and George Weston (WN.TO) are gaining 1 to 2%.

Ivanhoe Mines Ltd. (IVN.TO) reported a net profit of $108 million for the third-quarter of 2024, compared with $67 million in the second-quarter. The stock is down by about 3.7%.

Rogers Communications (RCI.A.TO), Toromont Industries (TIH.TO), Cameco Corporation (CCO.TO), Waste Connections (WCN.TO), Bank of Montreal (BMO.TO) and Morguard Corporation (MRC.TO) are down 1 to 2%.

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