Canadian Market Up Firmly In Positive Territory At Noon
(RTTNews) - The Canadian market is up firmly in positive territory at noon on Monday, with stocks from consumer discretionary, materials, energy and financials sectors posting notable gains.
The mood, however, remains a bit cautious with investors awaiting U.S. consumer price inflation date due this week, for more clarity about the Federal Reserve's interest rate trajectory.
The benchmark S&P/TSX Composite Index is up 127.90 points or 0.61% at 21,137.50 at noon.
Consumer discretionary stock Canada Goose Holdings (GOOS.TO) is up nearly 7%. Linamar Corp (LNR.TO) is gaining 2.4%, while Pet Valu Holdings (PET.TO), Restaurant Brands International (QSR.TO), Canadian Tire Corp (CTC.A.TO), MTY Food Group (MTY.TO), Sleep Country Canada Holdings (ZZZ.TO), Brp Inc (DOO.TO) and Spin Master Corp (TOY.TO) are up 1.5 to 2%.
In the energy sector, Arc Resources (ARX.TO) and Pason Systems (PSI.TO) are up 3.6% and 3.75%, respectively. Baytex Energy (BTE.TO), Enerplus Corp (ERF.TO), Prairiesky Royalty (PSK.TO), Meg Energy Corp (MEG.TO) and International Petroleum Corp (IPCO.TO) are gaining 2 to 3%.
Materials shares Lithium Americas Corp (LAC.TO) and New Gold Inc (NGD.TO) are up 8.1% and 6.5%, respectively. Ivanhoe Mines (IVN.TO), Osisko Mining Inc (OSK.TO), Novagold Resources (NG.TO), Iamgold Corp (IMG.TO), Capstone Mining Corp (CS.TO) and West Fraser Timber (WFG.TO) are gaining 2 to 3%.
Among financials, Fairfax Financial Holdings (FFH.TO) is up nearly 4%. Bank of Nova Scotia (BNS.TO), Laurentian Bank (LB.TO), Canadian Imperial Bank of Commerce (CM.TO), goeasy (GSY.TO) and Bank of Montreal (BMO.TO) are up 0.8 to 1.5%.
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