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Canadian Market Up Marginally In Cautious Trade

(RTTNews) - The Canadian market is up marginally in early afternoon trades as stocks continue to swing between gains and losses in cautious moves by investors.

Despite recent encouraging economic data from the world's largest economy, uncertainty about the pace of global economic recovery amid spikes in coronavirus cases and extension of lockdown measures in several parts of Europe appears to be prompting investors to stay cautious.

Telecom, healthcare and information technology stocks are weak, while several stocks from energy, materials and utilities sections are up with notable gains. Financial, consumer discretionary and industrials sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index was up 23.23 points or 0.13% at 18,674.33 about forty minutes past noon. Earlier, the index touched a low of 18,633.68.

Energy stocks MEG Energy (MEG.TO), Enerplus Corp (ERF.TO), Seven Generations Energy (VII.TO), Arc Resources (ARX.TO), Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO), Whitecap Resources (WCP.TO) and Tourmaline Oil Corp (TOU.TO) are up 2 to 6%.
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