Canadian Market Up Slightly In Cautious Trade

(RTTNews) - The Canadian market is roughly flat Tuesday afternoon with investors awaiting some key economic data, and largely refraining from making significant moves.

The benchmark S&P/TSX Composite Index is up 8.95 points or 0.04% at 21,884.74.

Onex Corporation (ONEX.TO) is gaining 4.5%. Kinaxis Inc (KXS.TO) is up 3.2% and Descartes Systems Group (DSG.TO) is up 2.75%.

Celestica Inc (CLS.TO), George Weston (WN.TO), CGI Inc (GIB.A.TO), FirstService Corporation (FSV.TO), Constellation Software (CSU.TO) and Dollarama Inc (DOL.TO) are up 1.2 to 2.2%.

Aecon Group Inc (ARE.TO) is plunging nearly 16%. Analysts at BMO Capital Markets have downgraded the construction company's stock, warning of a "cash flow drag" extending into the next year.

BCE Inc (BCE.TO), Rogers Communications (RCI.B.TO), Emera Incorporated (EMA.TO), Colliers International (CIGI.TO), Nutrien (NTR.TO), Restaurant Brands International (QSR.TO), West Fraser Timber (WFG.TO) and CCL Industries (CCL.B.TO) are down 1.7 to 3.3%.

On the economic front, the S&P Global Canada Manufacturing PMI held steady at 49.3 in June 2024, unchanged from May, marking the fourteenth consecutive month of contraction in factory activity.