Canadian Market Up Firmly In Positive Territory
(RTTNews) - The Canadian market is up firmly in positive territory Monday afternoon with U.S. President Donald Trump's decision to pause the 50% tariff on EU goods till July 9th, following a call from European Union Commission President Ursula von der Leyen.
"The EU and US share the world's most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," Von der Leyen wrote on X.
Shares from technology, real estate, consumer discretionary, industrials and energy stocks are the prominent gainers.
A few minutes ago, the benchmark S&P/TSX Composite Index was up 228.32 points or 0.88% at 26,108.27, just a few points off a record high.
ATS Corporation is soaring nearly 17%. ATS Corporation announced that it has reached a settlement agreement with its Electric Vehicle customer with respect to the previously disclosed outstanding payments owed.
Tenaz Energy Corp is rising 8.1% and Teck Resources (TECK.B.TO) is gaining 5.6%.
Tecsys Inc., Aritzia In., Celestica, Cargojet, BRP Inc., Shopify, Open Text Corporation, Cameco Corporation, Colliers International, Finning International, GFL Environmental, EQB, Toromont Industries, Brookfield Asset Management and West Fraser Timber are up 1.5 to 4%.
Ivanhoe Mines is plunging more than 16%. Calian Group, Pollard Banknote, MAG Silver Corp and Nutrien are down with sharp to moderate losses.
In economic news, Canada's manufacturing sales are expected to decline by 2% in April, following a 1.4% drop in March. Preliminary data points to significant losses in the petroleum and coal products sector, as well as in motor vehicle manufacturing.
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