Canadian Stocks Pull Back Off Best Levels But Close Slightly Higher

(RTTNews) - Canadian stocks moved mostly higher in early trading on Wednesday but gave back ground over the course of the session.

While the benchmark S&P/TSX Composite Index pulled back well off its early highs, the index still closed up 13.18 points or 0.1 percent at 21,656.05.

The early upward move partly reflected bargain hunting, with the S&P/TSX Composite Index regaining ground after closing lower for five straight sessions and hitting its lowest levels in a month.

Buying interest waned over the course of the session, however, as traders continued to express concerns about the outlook for interest rates.

Nonetheless, gold stocks continued to see significant strength on the day, driving the S&P/TSX Global Gold Index up by 1.2 percent. The strength in the sector came despite a pullback by the price of gold.

Technology stocks also saw notable strength, while healthcare and commercial real estate stocks showed notable moves to the downside.