TSX Extending Recent Gains, Up Nearly 0.5%

(RTTNews) - The Canadian market is up in positive territory on Tuesday, extending recent gains, amid easing tensions about tariffs following the two largest economies of the world, China and the U.S. agreeing on a trade deal, and data showing a less than expected increase in U.S. consumer price inflation in the month of April.

Energy and technology stocks are the prominent gainers. A few stocks from the industrial sector are also notably higher. Communications and healthcare are under pressure.

The benchmark S&P/TSX Composite Index was up 120.52 points or 0.47% at 25,652.70 a few minutes ago.

The Energy Capped Index is up 1.86%. Baytex Energy, the biggest gainer in the index, is up nearly 8%. Vermilion Energy, Paramount Resources, Parex Resources, Nuvista Energy and Veren Inc. are up 4 to 5.6%.

In the technology sector, Celestica Inc is rising nearly 10%. Quarterhill is surging 7.2%, Coveo Solutions is up 4.3% and Shopify Inc is gaining 3.75%. Lightspeed Commerce, Docebo, Enghouse Systems, Sylogist and BlackBerry are also up with strong gains.

Pet Valu Holdings is down 4.7%. Orla Mining, CAE Inc., BCE Inc., Calian Group, Premium Brands Holdings Corporation, Maple Leaf Foods, Telus Corporation, CCL Industries and Constellation Software are down 2 to 4.3%.

The U.S. Labor Department said its consumer price index inched up by 0.2% in April after edging down by 0.1% in March. Economists had expected consumer prices to rise by 0.3%.

Excluding food and energy prices, core consumer prices also rose by 0.2% in April after creeping up by 0.1% in March. Core consumer prices were also expected to climb by 0.3%.

The report also said the annual rate of growth by consumer prices slowed to 2.3% in April from 2.4% in March, while the annual rate of growth by core consumer prices was unchanged at 2.8%.