(RTTNews) - The Canadian stock market is turning in a mixed performance on Thursday with investors closely following news about Russia-Ukraine war, and digesting a slew of corporate earnings announcements.
Healthcare, consumer discretionary and technology stocks are weak, while stocks from consumer staples and communications sectors are moving higher. Materials and industrials stocks are finding modest support.
The benchmark S&P/TSX Composite Index, which rose to 21,345.60 in early trades but dropped to a low of 21,208.48 subsequently, is up 27.89 points or 0.13% at 21,283.53 at noon.
Toronto-Dominion Bank (TD.TO) shares are down 1.7% after the bank reported adjusted net income of $3,833 million for the first quarter of the current financial year, compared with $3,380 million in the first quarter last year. Adjusted diluted earnings per share were $2.08 in the first quarter, compared with $1.83 a year ago.
Canadian Natural Resources Limited (CNQ.TO) is gaining 4.3%. The company reported fourth quarter adjusted net earnings of C$2.6 million compared to C$.018 million, a year ago. Adjusting earnings per share was C$2.21 compared to C$0.15.
SNC-Lavalin (SNC.TO) is plunging 8.5% despite reporting a drop in net loss. reported net loss of $52.9 million for the fourth quarter of 2021, compared with net loss of $702.7 million in the fourth quarter of 2020.
AutoCanada Inc (ACQ.TO) is down by about 2.8% after reporting net income of $69.4 million for the fourth quarter of 2021, versus $24.3 million in the prior year. The income in the latest quarter includes recovery of non-financial assets of $39.8 million.
According to reports, Russian forces have stepped up their attacks, forcing thousands of Ukrainians to flee the country.
Markets are worries that the sanctions imposed on Russia, and the surge in oil prices could hurt growth at a time when the Federal Reserve is planning to raise interest rates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
