TSX Modestly Higher As Materials, Energy Stocks Gain
(RTTNews) - The Canadian market is modestly higher Wednesday afternoon, lifted by strong gains in materials and energy sectors.
The mood remains a bit cautious ahead of the Federal Bank's symposium in Jackson Hole, Wyoming, where several central bank chiefs including Fed Chair Jerome Powell are set to make speeches.
The benchmark S&P/TSX Composite Index was up 70.07 points or 0.25% at 27,893.95 a little while ago.
The Materials Capped Index is up 1.7% and the Energy Capped Index up 0.85%, with several stocks from these sectors rising sharply thanks to firm commodity prices.
G Mining Ventures Corp is rising 6.3%, and Barrick Mining Corp is gaining 4.1%. Agnico Eagle Mines, Orla Mining, Franco-Nevada Corp, New Gold, Aya Gold & Silver, Centerra Gold, Wheaton Precious Metals, Iamgold Corp and Eldorado Gold are up 2 to 3%.
Energy stocks Terravest Capital, PrairieSky Royalty, Canadian Natural Resources, Imperial Oil, Enerflex, Birchcliff Energy, Ces Energy Solutions, Parex Resources and Cenovus Energy are gaining 1 to 2%.
Fortis, TransCanada, George Weston, Open Text Corporation and CT Real Estate are among the notable gainers from other sectors.
Cameco Corporation and Corus Entertainment are down by more than 5%. Canopy Growth Corp, Lightspeed Commerce, Restaurant Brands International, Air Canada, Cronos Group, Gildan Activewear, West Fraser Timber, Baush Health Companies and Brp Inc. are down 2 to 4%.
In economic news, data from Statistics Canada showed new home pricesin Canada fell 0.1% month-over-month in July, marking the fourth consecutive monthly decline.
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply
U.S. Dollar Rises Ahead Of Fed's Powell Speech
CAC 40 Up Slightly In Lackluster Trade
