Canadian Market Up Firmly On All-round Buying

(RTTNews) - The Canadian market remains firmly placed in positive territory Monday afternoon with stocks from across several sectors posting impressive gains thanks to sustained buying interest.

Investors reacting to reports that the U.S. will likely adopt a more moderate, targeted approach to upcoming tariffs.

Technology stocks are hogging the limelight, and the Information Technology Capped Index is up nearly 3%. Financials, energy, industrials, real estate, consumer discretionary and healthcare stocks are the other notable gainers.

The benchmark S&P/TSX Composite Index, which climbed to 25,357.80, was up 329.61 points or 1.32% at 25,298.10 a little while ago.

Corus Entertainment is soaring nearly 27%. The company announced late last week that it has completed an assignment of all the indebtedness and obligations under its Seventh Amended and Restated Credit Agreement dated October 24, 2024 , as amended to existing, Canadian strategic debtholders. The company also completed an agreement to amend and restate the Credit Facility to, among other things, increase the maximum amount the company may request as an advance on a "revolving" basis to $75 million.

MAG Silver is up 5.5%. The company that its net income for fiscal 2024 rose to US$77.8 million, or US$0.75 per share, from US$47.8 million, or US$0.47 per share, last year.

Interfor, NexGen Energy, Aritzia, Shopify, BRP Inc., Celestica, Brookfield Business Partners, Canada Goose Holdings, Martinrea International, Enerflex, Canfor, Brookfield Infrastructure, Linamar, Aurora Cannabis, Peyto Exploration and Lundin Minng are gaining 3 to 6%.

On the economic front, manufacturing sales in Canada are expected to have declined by 0.2% month-over-month in February 2025, following a 1.7% rise in January, according to preliminary estimates.

Canada's CFIB Business Barometer long-term index, which measures 12-month forward expectations for business performance, tumbled 24.8 points to a record low of 25.0 in March, the levels seen during the 2020 pandemic, and the 9/11 attacks. The reading marked the largest monthly drop since the index's inception in 2000.