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 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.
Saputo, Thomson Reuters, WSP Global, Open Text Corporation, Empire Company, ATCO, Bausch Health Companies, AltaGas, George Weston, Hydro One, Emera Inc. and Fortis are down 1.6%-3.7%.
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