Canadian Market Holds Firm, Look Set To Close On Strong Note

(RTTNews) - Despite U.S. President Donald Trump's tariff threats, the Canadian markets remains firmly placed in positive territory Monday afternoon with stocks from across several sectors moving higher on strong buying support.

Higher commodity prices and expectations of more monetary easing by several central banks appear to be prompting investors to pick up stocks.

Technology, energy, materials and consumer discretionary stocks are moving higher, while healthcare stocks are weak.

The benchmark S&P/TSX Composite Index is up 225.22 points or 0.88% at 25,668.13, with little over an hour to go for the closing bell.

MDA Space (MDA.TO) is soaring more than 12%. The company announced today that it has signed a definitive contract with Globalstar, Inc. (GSAT) to be the prime contractor for the satellite operator's next generation low Earth orbit (LEO) constellation. The total contract is valued at approximately $1.1 billion

Toronto-Dominion Bank (TD.TO) is gaining 3.7%. The bank has announced that it plans to sell the entire equity investment in Charles Schwab Corp. (SCHW) through a registered offering and Schwab's share repurchase. TD, which owns 184.7 million shares of Schwab's common stock, will maintain its business relationship with Schwab through the Insured Deposit Account Agreement. Schwab has agreed to buy back $1.5 billion of its shares from TD after the offering is completed.

Telesat Corporation (TSAT.TO) is up 8%. Open Text Corporation (OTEX.TO) is gaining 4.5%, while Endeavour Mining (EDV.TO), E-L-Financial (ELF.TO), Kinaxis Inc (KXS.TO), Newmont Corporation (NGT.TO), Pan American Silver Corp (PAAS.TO) and Descartes Systems Group (DSG.TO) are up 3 to 4%.

Finning International (FTT.TO), Nutrien (NTR.TO), Shopify Inc (SHOP.TO), Mty Food Group (MTY.TO), Tourmaline Oil Corp (TOU.TO), Restaurant Brands International (QSR.TO), Wheaton Precious Metals (WPM.TO) and WSP Global (WSP.TO) are up 2.5 to 3%.