Canadian stocks are trading within a narrow range in subdued activity on Thursday, as market participants await signals for future direction. Trading volumes remain light due to the closure of U.S. financial markets, which is in observance of the passing of former U.S. President Jimmy Carter, who passed away at 100 years old in December.
Investors are eagerly anticipating the release of upcoming monthly employment data from both Canada and the U.S.
The materials sector is showing strength, bolstered by firm bullion prices, while the communications sector is underperforming. Notable declines are also observed in the industrials and utilities sectors.
The S&P/TSX Composite Index, the benchmark index, recently rose by 24.79 points, or approximately 0.1%, to 25,076.47.
Shares of Lundin Gold (LUG.TO) experienced a 6.5% rise. Capstone Copper (CS.TO) advanced by 5.3%, while other gainers such as First Quantum Minerals (FM.TO), Osisko Gold Royalties (OR.TO), International Petroleum Corp (IPCO.TO), Teck Resources (TECK.B.TO), High Liner Foods (HLF.TO), EQB Inc (EQB.TO), TerraVest Industries (TVK.TO), Telesat Corporation (TSAT.TO), and Pan American Silver Corp (PAAS.TO) saw increases ranging from 2% to 3.5%.
Conversely, Richelieu Hardware (RCH.TO), Bombardier Inc (BBD.B.TO), MDA Space (MDA.TO), BCE Inc (BCE.TO), and ATS Corporation (ATS.TO) experienced declines between 1% and 2.3%.
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