TSX Hovers Near Record High; Materials, Energy Stocks Shine Again
(RTTNews) - Materials and energy stocks are among the prominent gainers in the Canadian market, which is up in positive territory in mid afternoon trades on Thursday.
Stocks from the rest of the sectors are mostly subdued as the mood remains cautious with investors awaiting speeches from central bank chiefs, especially the Fed Chair Jerome Powell's address, for clues about interest rate cuts.
The benchmark S&P/TSX Composite Index was up 128.21 points or 0.47% at 28,006.97 a little while ago.
Advantage Oil & Gas, Cronos Group, Dundee Precious Metals, Alamos Gold and IamGold Corp climbed 3.5 to 4.2%.
Parex Resources, Barrick Gold Corporation, Mattr Corp., Nuvista Energy, Fortuna Silver Mines, Aritzia, Ero Copper, Sandstorm Gold, Aecon and Badger Infrastructure are up 2 to 3%.
Ballard Power Systems, Empire Company, BRP Inc., Real Matters, Finning International, Chrous Aviation, Cineplex, MEG Energy and Celestica are down 1 to 2.5%.
In economic news, data from Canadian Federation of Independent Business showed that Canada's CFIB Business Barometer long-term index fell 3.7 points to 47.8 in August, after climbing higher in the previous four months.
Data from Statistics Canada showed the Canadian industrial product price index climbed 0.7% in July, after a 0.4% increase in June. Year-on-year, the index jumped 2.6% in July.
Raw materials prices in Canada decreased to 0.8% in July from 1.1% in June.
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