Energy, Materials Shares Lifting Canadian Market

(RTTNews) - The Canadian market is up firmly in positive territory Monday morning, riding on strong gains in energy, materials, technology and healthcare sectors.

Firm commodity prices, and easing worries about interest rates contribute to the positive mood in the market.

The benchmark S&P/TSX Composite Index is up 106.56 points or 0.52% at 20,625.93 a few minutes before noon.

Energy stocks International Petroleum Corp (IPCO.TO), Tamarack Valley Energy (TVE.TO), Nuvista Energy (NVA.TO), Vermilion Energy (VET.TO), Parex Resources (PXT.TO), Enerplus Corp (ERF.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO), Precision Drilling (PD.TO) and Crescent Point Energy (CPG.TO) are gaining 1.5 to 3.2%.

In the materials sector, Pan American Silver Corp (PAAS.TO) is rising 6.3%. The company has announced that plans to sell its 56% stake in the Minera Agua Rica Alumbrera copper project in Argentina to Swiss commodities major Glencore for about $475 million.

Centerra Gold Inc (CG.TO) is up 3.6%. First Majestic Silver Corp (FR.TO), MAG Silver Corp (MAG.TO), Silvercrest Metals (SIL.TO), Endeavour Silver Corp (EDR.TO), Novagold (NG.TO) and Wesdome Gold Mines (WDO.TO) are up 3 to 5%.

In the technology sector, BlackBerry (BB.TO) is rising 5%. Coveo Solutions (CVO.TO) is up 3.5%, while Celestica Inc (CLS.TO), Bitfarms (BITF.TO), Hut 8 Mining Corp (HUT.TO), Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO), Kinaxis Inc (KXS.TO) and Alithya Corp (ALYA.TO) are up 1.5 to 3%.

Healthcare stock Tilray Inc (TLRY.TO) is up 4.3%, extending recent strong gains. Goeasy (GSY.TO), Cargojet (CJT.TO), Colliers International (CIGI.TO) and FirstService Corporation (FSV.TO) are among the other notable gainers this morning.