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Canadian Market Set For Another Strong Close

RTTNews | 1163 days ago

Canadian Market Set For Another Strong Close

(RTTNews) - The Canadian market is up firmly in positive territory Monday afternoon and looks set to end the session on a strong note.

Energy and materials stocks are the major gainers. Several stocks from consumer discretionary, utilities and financials sectors are also up with notable gains. Technology stocks are weak.

The benchmark S&P/TSX Composite Index is up 192.19 points or 1.01% at 19,255.10.

The Energy Capped Index is up by about 4.1%. Vermilion Energy (VET.TO) is soaring 10.3%. Arc Resources (ARX.TO), Advantage Oil & Gas (AAV.TO), Nuvista Energy (NVA.TO), Crescent Point Energy (CPG.TO), Enerplus Corp (ERF.TO), Tourmaline Oil Corp (TOU.TO), MEG Energy (MEG.TO) and Paramount Resources (POU.TO) are gaining 5 to 6%.

In the materials section, Ivanhoe Mines (IVN.TO), Hudbay Minerals (HBM.TO) and Capstone Mining Corp (CS.TO) are up 6.3 to 7%. Lithium Americas Corp (LAC.TO), First Quantum Minerals (FM.TO), New Gold (NGD.TO), Lundin Mining (LUN.TO), Teck Resources (TECK.B.TO), Stella Jones (SJ.TO), Interfor Corp (IFP.TO) and Sandstorm Gold (SSL.TO) are gaining 3 to 7%.

Technology stocks Hut 8 Mining Corp (HUT.TO), Descartes Systems Group (DSG.TO) and Docebo Inc (DCBO.TO) are down 6.7%, 5.2% and 4%, respectively. Lightspeed Commerce (LSPD.TO), Converge Technology Solutions (CTS.TO), Shopify Inc (SHOP.TO) and Kinaxis Inc (KXS.TO) are declining 2.5 to 3.7%.

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