Canadian Market In Positive Territory Again

(RTTNews) - The Canadian market is up in positive territory around noon on Friday, extending recent gains, with data on U.S. consumer sentiment raising optimism about growth.

Materials and healthcare stocks are among the major gainers. Several stocks from industrials, consumer staples and financials sectors too are up with strong gains.

The benchmark S&P/TSX Composite Index is up 104.30 points or 0.52% at 20,096.18 a few minutes past noon.

Lithium Americas Corp (LAC.TO) and Sandstorm Gold (SSL.TO) are up 6.6% and 6.35%, respectively. Silvercrest Metals (SIL.TO), New Gold (NGD.TO), Eldorado Gold (ELD.TO), Osisko Mining Inc (OSK.TO), Novagold (NG.TO), Fortuna Silver Mines (FVI.TO) and Pan American Silver Corp (PAAS.TO) are up 3 to 5%.

In the healthcare section, Aurora Cannabis (ACB.TO) is rising 7.5%. Canopy Growth Corp (WEED.TO) and Tilray Inc (TLRY.TO) both are gaining 3.25%, while Sienna Senior Living Inc (SIA.TO) and Cronos Group (CRON.TO) are up 2.5% and 2.1%, respectively.

Hut 8 Mining (HUT.TO) is soaring 11% on strong volumes. Kinross Gold Corp (K.TO), Barrick Gold Corporation (ABX.TO), Manulife Financial (MFC.TO) and TC Energy Corp (TRP.TO) are also up with sharp gains.

Adding to the positive sentiment about U.S. inflation, the Labor Department released a report on Thursday that showed U.S. import prices fell by more than expected in the month of July.

Today, the University of Michigan released a separate report showing consumer sentiment in the U.S. has improved by much more than expected in the month of August.

The report showed the consumer sentiment index jumped to 55.1 in August from 51.5 in July. Economists had expected the index to inch up to 52.5.

With the bigger than expected increase, the consumer sentiment index continued to recover after hitting a record low 50.0 in June.