TSX Up Marginally; Energy Stocks Rise
(RTTNews) - After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors.
Investors are cautiously optimistic about some positive progress in U.S.-China trade relations. The high-level talks between officials of the two countries is going on for a second day.
The benchmark S&P/TSX Composite Index, which climbed to 26,476.73 earlier in the session, was up 11.33 points or 0.14% at 26,387.13 nearly half an hour past noon.
Energy stocks are up thanks to higher crude oil prices. The Energy Capped Index is up more than 2%. Baytex Energy is rising nearly 8%. Vermilion Energy is climbing 5.7%, while Cenovus Energy, Imperial Oil, Precision Drilling, Nuvista Energy, Canadian Natural Resources, Suncor Energy, CES Energy Solutions and PrairieSky Royalty are up 2 to 3%.
Consumer discretionary stocks Linamar Corp, Brp Inc., Magna International, Spin Master Corp and Aritzia are up 1.3 to 4%.
Consumer staples stocks Alimentation Couche-Tard, Saputo and Empire Company are up 3.5%, 2.1% and 1%, respectively.
In the communications sector, BCE Inc. is rising 2.7% and Rogers Communications is gaining 2.3%. Quebecor and Cogeco Communications are up with modest gains.
Canadian Dollar Eases Against Most Majors
Swiss Market Ends On Weak Note; Pharma Stocks Among Major Losers
European Markets Close Mostly Flat
Canadian Market Drifts Lower On Profit Taking
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
UK Economy Flatlines In July
Bay Street Likely To Open On Mixed Note
