Canadian Market Up Marginally; Energy, Materials Stocks Move Higher
(RTTNews) - The Canadian market is up marginally around mid-afternoon on Monday thanks to strong gains in energy and materials stocks, which are riding on firm commodity prices. Technology, consumer staples, industrials and consumer discretionary stocks are mostly down, limiting market's upside.
After U.S. President Donald Trump rejected Iran's latest proposal to end the conflict, Iran said it would continue using both "the weapon of diplomacy" and military resistance whenever it considers necessary to protect national interests.
Iranian Foreign Ministry spokesperson Esmaeil Baqaei said the U.S. has committed a breach of trust in every diplomatic process it has participated in over the past 20 years.
The benchmark S&P/TSX Composite Index was up 86.45 points or 0.25% at 34,164.21 a little while ago.
Barrick Mining Corporation climbed nearly 9% after reporting stronger than expected quarterly earnings. Cronos Group (up 5.8%) also moved up sharply on upbeat earnings update.
Trican Well Service, Ensign Energy Services, First Majestic Silver, Silvercorp Metals, Seabridge Gold, Methanex, NexGen Energy, Chorus Aviation, Novagold Resources, Precision Drilling Corporation and Nutrien gained 4%-7%.
Pan American Silver Corp., Wesdome Gold Mines, Lundin Mining, Vermilion Energy, Equinox Gold, Osisko Gold Royalties, Ero Copper, Cameco, Wheaton Precious Metals, Imperial Oil, Cenovus Energy, Whitecap Resources and Hudbay Minerals moved up 2%-4%.
Cineplex dropped nearly 10%. Interfor, Kinaxis, Constellation Software, Shopify, Canada Goose Holdings, Lightspeed Commerce, BlackBerry, Bausch Health Companies, Descartes Systems, Extendicare and Element Financial Services lost 4%-6%.
Swiss Market Ends Modestly Higher
European Markets Rise As Oil Prices Fall On IEA Demand Cut
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected
U.S. Consumer Prices Increase In Line With Estimates In August
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery
