Canadian Market Recovers After Early Setback; Technology, Healthcare Stocks Rise

(RTTNews) - After a weak start and a subsequent fall to lower levels, the Canadian market pared losses and emerged into positive territory Friday morning.

The mood remains cautious amid concerns the Federal Reserve and the Bank of Canada will start hiking rates and tighten their monetary policies to rein in inflation. Rising tensions on the Ukraine border too contribute to the cautious mood in the market.

The benchmark S&P/TSX Composite Index, which drifted down to 20,411.76, is up 49.01 points or 0.25% at 20,593.12 slightly past noon.

Materials and industrials shares are down in negative territory. Technology and healthcare stocks are up with strong gains, while stocks from rest of the sectors are turning in a mixed performance.

Materials shares are down due to weak bullion prices. Ero Copper (ERO.TO), Teck Resources (TECK.B.TO), Capstone Mining Corp (CS.TO), Hudbay Minerals (HBM.TO), First Quantum Minerals (FM.TO), K92 Mining (KNT.TO) and Turquoise Hill Resources (TRQ.TO) are down 3 to 4.5%.
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