Canadian Stocks Up Firmly In Positive Territory; Corus Entertainment Soars

(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Thursday, with stocks from across various sectors moving higher on sustained buying interest.

Concerns about interest rates have eased after data on Wednesday showed U.S. inflation softened in the month of June. Hopes of additional stimulus in China to boost growth in the world's second largest economy contributed as well to the positive mood in the market.

The benchmark S&P/TSX Composite Index is up 175.10 points or 0.87% at 20,245.87 about a quarter past noon.

Corus Entertainment Inc. (CJR.B.TO) shares are soaring nearly 20% after the company said its subsidiary, Nelvana Limited, has entered into a definitive agreement under which Integrated Media Company, a TPG platform, will acquire Nelvana's subsidiary, Toon Boom Animation Inc. for approximately C$147.5 million in cash.

Canopy Growth Corp (WEED.TO) is rising 12.5% and Hut & Mining Corp (HUT.TO) is up 11%, while Aritzia Inc (ATZ.TO) is up nearly 6%. Capstone Corp (CS.TO), Docebo Inc (DCBO.TO), Nuvei Corporation (NVEI.TO), Hudbay Minerals (HBM.TO), Ballard Power Systems (BLDP.TO), Ivanhoe Mines (IVN.TO) and Mullen Group (MTL.TO) are up 3.5 to 5.3%.

Cameco Corporation (CCO.TO), First Quantum Minerals (FM.TO), Haivision Systems (HAI.TO), American Lithium Corp (LI.TO), Innergex Renewable Energy (INE.TO) and Lightspeed Cormmerce (LSPD.TO) are among the other prominent gainers.

SNC-Lavalin Group Inc. (SNC.TO) is down 2.5%. The company announced today that it has received an $85 million transportation development general engineering consultant (GEC) services contract from Florida's Turnpike Enterprise.

ARC Resources (ARX.TO), MAG Silver Corp (MAG.TO), Birchcliff Energy (BIR.TO), Canfor Corp (CFP.TO), Tecsys Inc (TCS.TO), MTY Food Group (MTY.TO), Spin Master Corp (TOY.TO) and Stantec (STN.TO) are down 1 to 1.6%.