Canadian Market Holding Gains After Steady Start

(RTTNews) - The Canadian market is fairly well entrenched in positive territory around noon on Monday, led by strong gains in healthcare and materials sections.

Several stocks from technology, real estate, communications, energy and consumer discretionary sectors are also up with impressive gains.

With recent strong data from the U.S. and the euro area turning out to be fairly encouraging, worries about recession have eased a bit and the mood in the market is positive.

The benchmark S&P/TSX Composite Index is up 92.85 points or 0.47% at 19,712.98 a few minutes past noon.

Capstone Copper (CS.TO) is soaring more than 18%. The company reported adjusted EBITDA of $114.7 million for the second quarter of the current fiscal, compared to $128.0 million in Q2 2021.

Canopy Growth Corp (WEED.TO) is zooming 14% on strong volumes. The company has reported a net loss of $2.09 billion for its fiscal first quarter that ended on June 30. The company said the loss was due to a non-cash impairment charge of $1.72 billion.

Aurora Cannabis (ACB.TO) and Tilray Inc (TLRY.TO) are up 8.25% and 7.8%, respectively.

Kinross Gold Corp (K.TO) is rising 5%. Barrick Gold Corporation (ABX.TO) is surging nearly 5%, lifted by a strong 19% surge in second quarter net income.

Hut 8 Mining Corp (HUT.TO), Cenovus Energy (CVE.TO), Athabasca Oil Corporation (ATH.TO) and Baytex Energy (BTE.TO) are also up sharply on strong volumes.

Bombardier Inc (BBD.A.TO) is up nearly 17%. First Quantum Minerals (FM.TO) is gaining 7.5% and Nuvei Corporation (NVEI.TO) is rising 7.2%. Canada Goose Holdings (GOOS.TO), Lightspeed Commerce (LSPD.TO), Lithium Americas Corp (LAC.TO) and Agnico Eagle Mines (AEM.TO) are gaining 3.5 to 6%.

CAE Inc (CAE.TO), Power Corporation of Canada (POW.TO), Toromont Industries (TIH.TO) and Royal Bank of Canada (RY.TO) are notably lower.