TORONTO — Canada’s main stock index lost steam throughout the trading day Monday to close just a few points higher amid a rotation into defensive sectors, while U.S. markets were mixed. The S&P/TSX composite index was up 2.99 points at 27,317.00.
TORONTO — Canada’s main stock index lost steam throughout the trading day Monday to close just a few points higher amid a rotation into defensive sectors, while U.S. markets were mixed.
The S&P/TSX composite index was up 2.99 points at 27,317.00.
“I think you’re seeing that while the TSX is up, the way sectors and stocks are moving today is just reflecting a high level of caution,” said Kevin Burkett, portfolio manager at Victoria-based Burkett Asset Management.
Burkett added that under the surface, there is a “risk-off trade” happening on the TSX when you look at the performance across sectors. He noted that names like Alimentation Couche-Tard Inc. and NovaGold…
