Canadian Market Modestly Lower At Noon In Cautious Trade

(RTTNews) - Despite coming off early lows, the Canadian market is languishing in negative territory around noon on Monday with investors largely refraining from making significant moves.

The mood is cautious as investors await the Federal Reserve's monetary policy announcement, due on Wednesday. The European Central Bank and the Bank of England are also scheduled to announce their policies this week.

The benchmark S&P/TSX Composite Index is down 40.16 points or 0-.19% at 20,674.32, off an early low of 20,609.02.

Technology, healthcare and energy stocks are among the notable losers. Industrials shares are gaining some ground in positive territory, while shares from rest of the sectors are turning in a mixed performance.

The Healthcare Caped Index is down 2.37%. Bausch Health Companies (BHC.TO) is plunging more than 6%. Tilray Inc (TLRY.TO) is lower by about 2.5%.

In the technology sector, Lightspeed Commerce (LSPD.TO) and Shopify Inc (SHOP.TO), both are down more than 3%. BlackBerry (BB.TO) and Celestica Inc (CLS.TO) both are lower by about 2%, while Quarterhill (QTRH.TO), Converge Technology Solutions (CTS.TO), Nuvei Corp (NVEI.TO) and Constellation Software (CSU.TO) are down 1 to 1.6%.

Among energy stocks, Peyto Exploration and Development Corp (PEY.TO) is down nearly 7%. Arc Resources (ARX.TO), Birchcliff Energy (BIR.TO), Tourmaline Oil Corp (TOU.TO), Paramount Resources (POU.TO) and Enerplus Corp (ERF.TO) are down 2 to 5%.