Canadian Market Extending Recent Gains; Technology, Healthcare Stocks Rise
(RTTNews) - Despite a somewhat cautious mood ahead of crucial U.S. data due later in the week, the Canadian market is up firmly in positive territory on Tuesday, supported by strong gains in healthcare, industrials, communications and technology sectors. Energy and materials stocks are turning in a mixed performance.
A few stocks from financials, real estate and consumer discretionary sectors are up with notable gains.
The benchmark S&P/TSX Composite Index was up 258.91 points or 0.78% at 33,282.23 at noon.
Bausch Health Companies is gaining 4.5%, topping the gainers list in the healthcare index. Chartwell Retirement Residences is up 1.1%, while Curaleaf Holdings is gaining 1%. Sienna Senior Living is advancing 0.4%.
Among industrials, Ats Corp is gaining 5.4%. Thomson Reuters and Canadian National Railway are up 3.6% and 3.5%, respectively. Canadian Pacific Kansas City, Cae Inc. and Cargojet are gaining 2.5%, 2.4% and 2.3%, respectively.
In the communications sector, Rogers Communications, Telus Corp. and BCE are up 1.1%-1.4%.
Technology stock Shopify surged 8% on expectations of strong results from the company amid renewed confidence in its AI-driven commerce strategy.
Dye & Durham, Open Text Corp., Sylogist, Enghouse Systems, Computer Modelling, Lightspeed Commerce, Descartes Systems Group, BlackBerry, Coveo Solutions and Docebo gained 1.4%-4.5%.
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