TSX Rises To New High; Materials Stocks Jump As Precious Metals Rally
(RTTNews) - The Canadian market is up firmly in positive territory Monday afternoon, led by strong gains in materials, real estate and financials sectors.
Materials stocks are up as precious metal prices soared on safe haven demand following the U.S. capturing Venezuelean leader Nicolás Maduro over the weekend.
The benchmark S&P/TSX Composite Index, which rose to a new record high of 32,313.11, was up 410.14 points or 1.3% at 32,293.51 a little while ago.
The Materials Capped Index is up 4.5% as metal prices surged higher. Gold futures gained nearly 3%, Silver futures jumped 7.5% and copper futures rallied 5.1%.
Endeavour Silver Corp., up nearly 11%, tops the gainers list. Novagold, Perpetua Resources, First Majestic Silver Corp., Ngex Minerals, Lundin Mining Corp., Capstone Mining, Methanex Corp., Fortuna Mines, Seabridge Gold and Equinox Gold are up 6 to 9%.
Real estate stocks CDN Apartment, Kiliam Apartment, Primaris, Boardwalk Real Estate Investment, Colliers International Group, Dream Industrial, Northwest Healthcare, FirstService Corp., H&R Real Estate and CT Real Estate are up 2 to 5%.
In the financials sector, Trisura Group, Sprott, Brookfield Corporation, Igm Financial, Onex Corp., Power Corporation of Canada, Brookfield Asset Management, IA Financial Corp., and Manulife Financial are gaining 2 to 5.6%.
Energy stocks Cenovus Energy, Parex Resources, Canadian Natural Resources, Vermilion Energy, Baytex Energy, Trican Well Service, Kelt Exploration, Whitecap Resources, Paramount Resources and Arc Resources lost 3 to 5.7%.
Celestica, Intefor, Tilray, Boralex, Dollarama, Kinaxis, Fortis, TransAlta, Nutrien, Canadian Utilities and Canadian Pacific Railway are among the major losers from other sectors.
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