Energy, Industrial Shares Lift Canadian Market
(RTTNews) - The Canadian market is up in positive territory in early afternoon trades, led by gains in energy and industrials sections.
A few stocks from healthcare and real estate sectors are up with notable gains. Shares from the rest of the sectors are turning in a mixed performance.
The benchmark S&P/TSX Composite Index is up 124.00 points or 0.6% at 20,646.64.
On the economic front, data released by Statistics Canada showed the Canadian economic activity likely edged down by 0.1% month-over-month in March 2023. In February, the GDP edged up by 0.1%, following a 0.6% expansion in January.
The Energy Capped Index is up 2.6%. Nuvista Energy (NVA.TO), Tourmaline Oil Corp (TOU.TO), Vermilion Energy (VET.TO), MEG Energy (MEG.TO), Arc Resources (ARX.TO) and Baytex Energy (BTE.TO) are gaining 4 to 5%.
In the industrials section, Gfl Environmental (GFL.TO) is rising nearly 7.5% after reporting revenue of $1,799.1 million for the first quarter, up 28.4% from a year ago.
Tfi International (TFII.TO) is up 5.5%, while Toromont Industries (TIH.TO), Air Canada (AC.TO), Brookfield Business Partners (BBU.UN.TO), Waste Connections (WCN.TO), Ats Corp (ATS.TO), Canadian National Railway (CNR.TO) and Canadian Pacific Railway (CP.TO) are up 1 to 2%.
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