TSX Ends Slightly Higher After Choppy Session

(RTTNews) - After swinging between gains and losses almost right through the session, the Canadian stock market ended slightly up on Wednesday.

The mood was cautious with investors tracking news about coronavirus spread, U.S.-China tensions, and reacting to the trend in commodity prices.

The benchmark S&P/TSX Composite Index ended up 8.10 points or 0.05% at 16,171.06, after scaling a low of 16,107.73 and a high of 16,196.41 intraday.

Energy and telecom stocks declined. Real estate, materials and consumer discretionary shares found support, while industrial, information technology, financial and healthcare shares turned in a mixed performance.

Bombardier Inc. (BBD.B.TO) shares rose more than 6.5%. B2Gold Corp (BTO.TO) gained about 2%, while Yamana Gold (YRI.TO), Enbridge Inc. (ENB.TO), Cenovus Energy (CVE.TO) and Barrick Gold Corp (ABX.TO) gained 0.7 to 1%.

First Quantum Minerals (FM.TO) eased 2.6% and Suncor Energy (SU.TO) slid 2.1% and Canadian Natural Resources (CNQ.TO) ended down 1.4%.

In economic news, data from Statistics Canada showed consumer prices in Canada rose 0.7% year-on-year in June 2020, following a 0.4% fall in May. The Consumer Price Index increased 0.8% in June of 2020 over the previous month. Core consumer prices in Canada increased 1.1% in June over the same month in the previous year.

The market struggled as investors looked for direction amid concerns about surging coronavirus cases in the U.S. and President Donald Trump's warning that the pandemic "will get worse before it gets better."

Tensions between the U.S. and China came to the fore again after the U.S. asked Beijing to close its diplomatic consulate in Houston within the next 72 hours and Chinese foreign ministry spokesperson Wang Wenbin condemned the action and warned of retaliation if the U.S. does not reverse its decision.