Canadian Market Modestly Higher At Noon

(RTTNews) - The Canadian market is modestly higher a little before noon on Tuesday, thanks to some strong gains in healthcare, consumer staples and financials sectors. The mood in the market remains a bit cautious with investors awaiting the Federal Reserve's policy announcement, and some key U.S. and Canadian economic data.

The benchmark S&P/TSX Composite Index is up 52.42 points or 0.23% at 22,831.99 a few minutes before noon.

Healthcare stock Tilray Inc (TLRY.TO) is soaring nearly 10%. Bausch Health Companies (BHC.TO) is gaining about 1%, while Chartwell Retirement Residences (CSH.UN.TO) and Sienna Senior Living (SIA.TO) are up with modest gains.

Consumer staples stock George Weston (WN.TO) is gaining 1.3% on strong results. The company reported adjusted net earnings of $394 million for the second quarter, an increase of $17 million, or 4.5%, compared to the year-ago quarter.

Primo Water Corp (PRMW.TO) and Loblaw (L.TO) are up 1.5% and 1%, respectively. Alimentation Couche-Tard (ATD.TO), Metro Inc (MRU.TO) and The North West Company (NWC.TO) are up 0.7 to 0.9%.

In the financials sector, Toronto-Dominion Bank (TD.TO), Laurentian Bank (LB.TO), Bank of Nova Scotia (BNS.TO), Royal Bank of Canada (RY.TO), Sun Life Financial (SLF.TO), CDN Western Bank (CWB.TO) and Canadian Imperial Bank of Commerce (CM.TO) are gaining 1 to 1.7%.

Bank of Montreal (BMO.TO) is down 4.7%, after RBC Capital Markets downgraded the stock's rating to "sector perform" from "outperform" and cut the price target to C$ 118 from C$ 124.

Celestica Inc (CLS.TO), Constellation Software (CSU.TO) and TerraVest Industries (TVK.TO) are down 1.2 to 1.7%.