Energy, Materials Stocks Shine As TSX Rises 0.5%

(RTTNews) - The Canadian market is up in positive territory a little past noon on Monday, lifted by gains in energy, materials and communications sectors, even as the mood remains cautious amid concerns about Sino-US trade tensions, and the Trump administration's announcement that it would increase the tariffs on imports of steel and aluminum to 50% from 25%.

Investors are looking ahead to Bank of Canada's interest rate decision on Wednesday, and the crucial jobs data from the U.S. and Canada later in the week.

The benchmark S&P/TSX Composite Index, was up 123.05 points or 0.47% at 26,298.10 a few minutes past noon.

The Materials Capped Index is up nearly 4.2% as several stocks in the sector are up sharply on firm metal prices. Fortuna Mines, First Majestic Silver Corp. and Endeavour Silver Corp are up 10 to 10.5%. B2Gold Corp, Iamgold, Pan American Silver Corp, Aya Gold & Silver, Kinross Gold Corp, Ssr Mining, Torex Gold Resources, Osisko Gold Royalties, Alamos Gold, Orla Mining, Ivanhoe Mines and MAG Silver are gaining 5 to 8%.

The Energy Capped Index is up 1.7%, with several stocks moving up on rising crude oil prices amid concerns about the outlook for supply on reports the U.S. might impose sanctions on Russia.

Baytex Energy, Vermilion Energy, Precision Drilling Corp, Paramount Resources, Peyto Exploration, Birchcliff Energy, Freehold Royalties, Tamarack Valley Energy, Athabasca Oil Corp., Parex Resources, Arc Resources and Nuvista Energy are gaining 2 to 4.5%.

Communications shares BCE Inc. and Quebecor are up 2.6% and 2.5%, respectively. Telus Corp is up 1.1% and Rogers Communications is gaining 0.8%.