Canadian Shares Rising Sharply In Late Morning Trade
(RTTNews) - The Canadian market is up firmly in positive territory Thursday morning, led by gains in energy stocks.
Stocks from materials and technology sectors are notably lower in cautious trade with investors digesting the data on U.S. consumer price inflation.
The data from the Labor Department showed consumer prices in the U.S. rose by more than expected in September, raising concerns about the outlook for interest rates. The data said the consumer price index rose by 0.4% in September after inching up by 0.1% in August. Economists had expected consumer prices to edge up by 0.2%.
The benchmark S&P/TSX Composite Index is up 253.76 points or 1.4% at 18,460.04.
Aritzia Inc (ATZ.TO) is climbing more than 5.5%. Vermilion Energy (VET.TO) is up by about 4.5%. Nutrien (NTR.TO), Imperial Oil (IMO.TO), Precision Drilling Corporation (PD.TO), Methanex Corporation (MX.TO), Tourmaline Oil Corp (TOU.TO), Canadian Natural Resources (CNQ.TO), TC Energy Corporation (TRP.TO) and BCE Inc (BCE.TO) are up 2 to 3.5%.
Kinaxis (KXS.TO), Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Bank of Montreal (BMO.TO) and West Fraser Timber (WFG.TO) are also notably higher.
Barrick Gold Corporation (ABX.TO) is declining 5.5%. Wheaton Precious Metals (WPM.TO), Agnico Eagle Mines (AEM.TO), Franco-Nevada Corporation (FNV.TO) and Constellation Software (CSU.TO) are down 1.7 to 3%.
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