After opening marginally higher and edging up a bit, the Canadian market retreated Monday morning, weighed down by weakness in communications, healthcare, real estate and utilities sectors.
The mood is somewhat cautious due to a lack of significant triggers.
The benchmark S&P/TSX Composite Index is down 19.21 points or 0.08% at 22,147.82. The index, which advanced to 22,204.74, dropped to a low of 22,115.90 before recovering a bit.
Bank of Nova Scotia (BNS.TO), West Fraser Timber (WFG.TO), Dayforce (DAY.TO), Onex Corporation (ONEX.TO), Molson Coors Canada Inc (TPX.A.TO) and Restaurant Brands International (QSR.TO) are down 1.3 to 2.4%.
Cameco Corporation (CCO.TO) is climbing 5.8%. BRP Inc (DOO.TO) is gaining 5.5% and Nuvei Corporation (NVEI.TO) is up 5%.
Ag Growth International (AFN.TO), Celestica Inc (CLS.TO), Descartes Systems Group (DSG.TO), Nutrien (NTR.TO), Precision Drilling Corporation (PD.TO) and Cargojet (CJT.TO) are up 1 to 3%.
On the economic front, the S&P Global Canada Manufacturing PMI edged up 0.1 point from the previous month to 49.8 in March, pointing to the eleventh consecutive contraction in the Canadian factory activity.