Canadian Market Moderately Higher At Noon
(RTTNews) - The Canadian market is up in positive territory around noon on Tuesday, led by gains in technology and materials shares.
Several stocks from energy, real estate, financials and consumer staples are also up in positive territory. Stocks from other sectors are turning in a mixed performance.
With the Federal Reserve's monetary policy announcement due on Wednesday, the mood is cautious. The Bank of England and the European Central Bank are also scheduled to announce their interest rate decisions this week.
The benchmark S&P/TSX Composite Index is up 146.04 points or 0.71% at 10,718.15 a little before noon.
The Information Technology Capped Index is up 1.76%. Converge Technology Solutions (CTS.TO) is rising nearly 7%. Hut 8 Mining (HUT.TO) is gaining 6.2%, and Shopify Inc (SHOP.TO) is up nearly 5%.
Celestica Inc (CLS.TO), Payfare Inc (PAY.TO), Quarterhill (QTRH.TO), Coveo Solutions (CVO.TO), Tecsys Inc (TCS.TO) and Kinaxis Inc (KXS.TO) are up 2 to 4%.
Lithium Americas Corp (LAC.TO), which is soaring nearly 12%, is the biggest gainer in the energy sector. Ivanhoe Mines (IVN.TO), Interfor Corp (IFP.TO), Osisko Mining (OSK.TO), Teck Resources (TECK.B.TO), Canfor Corp (CFP.TO), Stella Jones (SJ.TO), Nutrien (NTR.TO) and Lundin Mining Corp (LUN.TO) are advancing 3 to 5%.
On the economic front, the Canadian economy likely stalled in December from the previous months, according to preliminary estimates. In November, the GDP edged up by 0.1%, extending the 0.1% advance in October and above the preliminary estimate of a stall.
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