Canadian Market Modestly Higher; Energy, Materials Stocks Rise

RTTNews | Před 1 dnem

(RTTNews) - The Canadian market is up in positive territory Monday afternoon, with stocks from energy, materials, technology and consumer discretionary sectors contributing to the upmove.

The mood remains cautious with investors looking ahead to interest rate decisions from the Bank of Canada and the Federal Reserve on Wednesday.

The benchmark S&P/TSX Composite Index, which climbed to 29,413.70 earlier in the session, was up 103.03 points or 0.35% at 29,386.85 a little while ago.

Energy stock Parex Resources is up 5.3%. Canadian Natural Resources, Cenovus Energy, Whitecap Resources, Imperial Oil, Kelt Exploration and Vermilion Energy are up 1 to 2%.

In the materials sector, Orla Mining is soaring nearly 9.5%. Seabridge Gold Inc shares are up 7.5% and Aya Gold & Silver is gaining 4.5%. New Gold, Endeavour Silver, Osisko Gold Royalties, Iamgold Corp., MAG Silver Corp and Torex Gold Resources are up 3 to 3.5%.

Among technology stocks, Bitfarms is rising 6.7%. Open Text Corporation is gaining 6.1%, while Lightspeed Commerce, Celestica and BlackBerry are up 2.2 to 2.5%.

Consumer discretionary stocks Aritzia is rising nearly 3%, Gildan Activewear is gaining 1.3% and Restaurant Brands International is up 1.1%.

On the economic front, Canada's manufacturing sales rose by 2.5% to C$ 70.3 billion in July 2025, following a 0.3% increase in June, data from Statistics Canada showed. This marked the strongest increase since January 2023. On a year-over-year basis, total manufacturing sales were down 1.7%.

Canada's wholesale sales climbed 1.2% month-on-month to C$86.0 billion in July 2025, the fastest gain since January, accelerating from an upwardly revised 1.0% increase in June.

Car Registrations in Canada decreased to 177,313 Units in June from 194,524 Units in May of 2025, a separate data from Statistics Canada showed.

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