Technology, Materials Stocks Climb Higher; TSX Up Over 1%

(RTTNews) - After with a strong positive gap and moving further up north, the Canadian market remains high up in positive territory around noon on Monday with stocks from materials and technology sectors scoring impressive gains.

The mood in the market is quite bullish amid prospects of an end to the US government shutdown after the Senate voted to advance legislation to end the government shutdown, which recently became the longest in U.S. history.

On Sunday, the Senate voted 60-40 in favor of a temporary funding bill, which would also reverse some of the recent mass federal layoffs.

Final approval of the bill could be delayed by any one Senator, and the legislation still needs to be approved the Republican-controlled House of Representatives.

The benchmark S&P/TSX Composite Index was up 317.47 points or 1.06% at 30,229.66 a few minutes past noon.

The Materials Capped Index is up 3.61%. Discovery Silver Corp is soaring more than 18%. Endeavour Silver Corp and Aris Gold Corporation are rising 12.5% and 10.3%, respectively. Orla Mining, Torex Gold Resources, K92 Mining Inc., Pan American Silver Corp., B2Gold Corp, Seabridge Gold and Aya Gold & Silver are gaining 6 to 9%.

The Information Technology Index is up 1.86%. Coveo Solutions and Celestica Inc are up 5.5% and 5%, respectively. Shopify is rising 3.7% and Lightspeed Commerce is gaining 2.5%. BlackBerry, Firan Technology Group, Computer Modelling Group, Sylogist and Quarterhill are also up with notable gains.

Organigram Holdings, Canopy Growth Corporation, Tilray, Saputo, Canada Goose Holdings, Brookfield Business Partners, Bombardier, Cameco and Quebecor are among the other prominent gainers.

Interfor, Canfor, Premium Brands, Thomson Reuters, Onex Corporation, Methanex, Ballard Power Systems, Sun Life Financial, Stantec and AtkinsRealis are down 1 to 5%.