Canada's S&P/TSX Composite Index Pulling Back Off Record Closing High

(RTTNews) - After moving higher over the two previous sessions, Canadian stocks are giving back ground during trading on Wednesday.

Currently, the benchmark S&P/TSX Composite Index is off its worst levels of the day but still down 113.16 points or 0.4 percent at 26,605.45.

The pullback on the day may partly reflect profit taking after the S&P/TSX Composite Index ended the previous session at a record closing high.

Traders are also keeping an eye on developments in the Middle East following yesterday's news of a ceasefire between Israel and Iran.

Consumer staples stocks are turning in some of the market's worst performances on the day, with the S&P/TSX Capped Consumer Staples Index falling by 1.4 percent.

Utilities, consumer discretionary and real estate stocks have also moved to the downside, while healthcare stocks have bucked the downtrend.