Canadian Market Falters After Hitting Fresh Record High; Cannabis Shares ShinePosted by On


After opening with a positive gap, and at a new all-time high Wednesday morning, the Canadian stock market slipped into the red before paring some losses on finding support at lower levels.

Investors appear to be making cautious moves, looking for direction after seven successive days of gains. Healthcare and energy stocks are among the notable gainers, while shares from industrial and consumer discretionary shares are weak. Shares from other sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index, which opened at 18,527.88, swiftly slid to a low of 18,302.06 before recovering to pare some losses. The index was down 28.60 points or 0.16% at 18,380.02 nearly half an hour past noon.

Aurora Cannabis (ACB.TO) is rising nearly 10.5%. Aphria Inc. (APHA.TO) is up by about 7%, extending gains from previous session. Cronos Group (CRON.TO) and Canopy Growth Corporation (WEED.TO) are up 6% and 2.8%, respectively. Chartwell Retirement Residences (CSH.UN.TO) is gaining about 1.5%.

Organigram Holdings Inc. (OGI.TO) shares are climbing more than 25% on strong volumes.

In the energy space, Enerplus Corp (ERF.TO) is gaining 4.2%, PrairieSky Royalty (PSK.TO), Seven Generations Energy (VII.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO) and Canadian Natural Resources (CNQ.TO) are up 1.5 to 3.2%, while Vermilion Energy (VET.TO) and Imperial Oil (IMO.TO) are up 1.1%…

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After opening with a positive gap, and at a new all-time high Wednesday morning, the Canadian stock market slipped into the red before paring some losses on finding support at lower levels.

Investors appear to be making cautious moves, looking for direction after seven successive days of gains. Healthcare and energy stocks are among the notable gainers, while shares from industrial and consumer discretionary shares are weak. Shares from other sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index, which opened at 18,527.88, swiftly slid to a low of 18,302.06 before recovering to pare some losses. The index was down 28.60 points or 0.16% at 18,380.02 nearly half an hour past noon.

Aurora Cannabis (ACB.TO) is rising nearly 10.5%. Aphria Inc. (APHA.TO) is up by about 7%, extending gains from previous session. Cronos Group (CRON.TO) and Canopy Growth Corporation (WEED.TO) are up 6% and 2.8%, respectively. Chartwell Retirement Residences (CSH.UN.TO) is gaining about 1.5%.

Organigram Holdings Inc. (OGI.TO) shares are climbing more than 25% on strong volumes.

In the energy space, Enerplus Corp (ERF.TO) is gaining 4.2%, PrairieSky Royalty (PSK.TO), Seven Generations Energy (VII.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO) and Canadian Natural Resources (CNQ.TO) are up 1.5 to 3.2%, while Vermilion Energy (VET.TO) and Imperial Oil (IMO.TO) are up 1.1%…



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