Canadian Stocks Up Firmly In Positive Territory

(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Wednesday, lifted by gains in utilities, technology, consumer and financials sectors.

Several stocks from industrials and communications sectors are also notably higher, while energy stocks are weak. Materials and real estate stocks are turning in a mixed performance.

The market undertone is positive amid slightly easing tensions about tariffs ahead of U.S.-China meeting this week, and expectations that the Federal Reserve will hold interest rates unchanged.

The benchmark S&P/TSX Composite Index was up 143.34 or 0.58% at 25,118.06 a little while ago.

Utilities stock Fortis Inc. is gaining nearly 2%. Fortis reported earnings per share of $1.00 in the latest quarter, compared to $0.93 per share in the year-ago quarter.

Northland Power is climbing up more than 2%, while Superior Plus Corp., Hydro One and Brookfield Infra Partners are up 1 to 1.3%.

Technology stocks Dye & Durham, Sylogist, Bitfarms, Docebo, CGI Group, Shopify and Constellation Software are gaining 1.5 to 3.2%.

Consumer discretionary stocks Spin Master Corp and Pet Valu Holdings are rising 4.5% and 4%, respectively. Aritzia, Restaurant Brands and Brp Inc., are also notably higher.

Consumer staples stock Premium Brands Holdings Corp. is rising more than 6.5%.

In the financials sector, Fairfax Financial Holdings, Sun Life Financial, National Bank of Canada and Brookfield Asset Management are up with strong gains.

Barrick Gold Corporation is up nearly 1.5% after reporting that adjusted net earnings per share increased by 84% year-on-year to $0.35 in the first quarter of the current fiscal year.

Stella-Jones Inc shares are up nearly 6% after the company announced that its net income increased to C$93 million from C$77 million last year. Earnings per share were C$1.67 versus C$77 last year.