Mining Stocks Rally, Lift TSX Up Sharply For Second Straight Session
(RTTNews) - Canadian stocks are up firmly in positive territory a little past noon on Monday, holding their gains intact thanks to sustained buying in materials sector after precious metals prices climbed higher on weaker dollar and escalating tensions between Tehran and Washington.
The benchmark S&P/TSX Composite Index was up 374.05 points or 1.15% at 32,845.03 a few minutes past noon.
The Materials Capped Index is up 3.7% with several mining stocks posting strong gains. Iamgold, Orla Mining, First Majestic Silver Corp., Alamos Gold & Silver, Silvercorp Metals, Ivanhoe Mines, Eldorado Gold, New Gold and B2Gold Corp are up 6%-8.5%.
Oceanagold, Endeavor Silver, Discovery Silver Corp, Novagold, Torex Gold Resources, Pan American Silver Corp., Ssr Mining, Perpetua Resources, Aya Gold & Silver, and several other stocks from the section are up with handsome gains.
Technology stock Dye & Durham is soarding 15%. Bitfarms, Shopify, Coveo Solutions, Firan Technology Group, Computer Modelling Group and Celestica are up 2.5%-4%.
Healthcare stocks Curaleaf Holdings and Bausch Health Companies are up 2.2% and 1.7%, respectively.
Enerflex, Parex Resources, Headwater Exploration, Kelt Exploration, International Petroleum Corporation, Terravest Industries, Whitecap Resources and Baytex Energy are among the notable gainers in the energy sector.
Financials stocks Sprott, Brookfield Corporation, Brookfield Asset Management, TMX Group, National Bank of Canada and EQB are up with impressive gains.
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