Canadian Market Modestly Higher; Materials Stocks Move Up
(RTTNews) - After a flat start and a subsequent good move up north, Canadian benchmark index S&P/TSX Composite Index came off higher levels on Tuesday, with the mood turning a bit cautious as investors looked ahead to the Canadian central bank's interest rate decision due on Wednesday.
Soft inflation data from the U.S. helped ease concerns about any immediate rate hike by the Federal Reserve and supported the market's upmove. However, escalating tensions in the Middle East limited market's gains.
The S&P/TSX Composite Index was up 90.82 points or 0.26% at 35,343.54 half an hour past noon.
The Materials Capped Index gained more than 1.5%. First Quantum Minerals, Hudbay Minerals, Methanex Corp., Capstone Copper, Ivanhoe Mines, Altius Minerals, Aya Gold & Silver, G. Mining Ventures, Montage Gold Corp., Lundin Mining, Torex Gold Resources, West Fraser Timber and Ero Copper moved up 3.5%-7%.
Mattr Corp shares soared nearly 25% after the company said it expects second-quarter revenue in the range of $390 million to $400 million.
Canfor zoomed 8.5%. Western Forest Products, Interfor, Aecon, NexGen Energy, First Majestic Silver, Richelieu Hardware, Cascades and Brookfield Business Partners gained 1.5%-7%.
Constellation Software, Open Text Corporation, Tilray, CGI Inc., Precision Drilling, Air Canada, Computer Modelling, Cronos Group, Gran Tierra Energy, Element Financial and Secure Energy lost 1.5%-3.6%.
European Shares Rise As Oil Prices Ease After Recent Surge
UK Economy Expands Unexpectedly
Asian Shares Retreat On Inflation Fears
European Shares Set For Lackluster Open; US CPI Data Eyed
Indian Shares Tumble Amid Geopolitical Concerns
Australian Market Extends Early Strong Losses In Mid-market
Asian Markets Sink Amid Inflationary Risks
