Canadian Market Up Firmly In Positive Territory Despite Coming Off Early Highs
(RTTNews) - Despite paring some early gains, the Canadian market remains firmly up in positive territory a little past noon on Monday thanks to strong gains in energy, materials and technology sectors. Investors appear to be looking to pick up stocks that took a severe beating i
(RTTNews) - Despite paring some early gains, the Canadian market remains firmly up in positive territory a little past noon on Monday thanks to strong gains in energy, materials and technology sectors.
Investors appear to be looking to pick up stocks that took a severe beating in the previous session.
The mood in the market is positive amid hopes of a potential de-escalation in the wider U.S.-Iran war after Iran said its first wave of attacks on Israel had ended.
The benchmark S&P/TSX Composite Index, which climbed to 34,734.90 earlier in the day, was up 156.91 points or 0.45% at 34,570.36 a little while ago.
The Energy Capped Index is up 2%. Birchcliff Energy is up more than 7%. Terravest Industries, Headwater Exploration, International Petroleum Corporation, Tamarack Valley Energy, Whitecap Resources, Baytex Energy, Advantage Energy, Kelt Exploration, Peyto Exploration and Athabasca Oil Corp are gaining 2.3%-5.4%.
Materials stocks Ero Copper, Vizsila Silver Corp., K92 Mining, Wesdome Gold Mines, Methanex Corporation, Taseko Mines, Aris Mining Corporation, Ivanhoe Mines and Aya Gold & Silver are up 3%-5%.
In the technology space, Celestica, Lightspeed Commerce and Tecsys are up 3.3%-3.5%. Firan Technology, Shopify, Docebo, BlackBerry, Computer Modelling and Coveo Solutions are gaining 1.2%-2.2%.
Knight Therapeutics, Badger Infrastructure Solutions, Aurora Cannabis, Cameco, Ballard Power Systems, Linamar Corp., TFI International and Mattr Corp. are among the notable gainers from other sectors.
