Canadian Market Modestly Higher, Looks Headed For Positive Close
(RTTNews) - The Canadian market is up in positive territory Monday afternoon with energy and materials shares recording strong gains thanks to higher commodity prices. The mood remains a bit cautious amid concerns about geopolitical tensions, and uncertainty about the Federal Reserve's monetary policy moves.
The benchmark S&P/TSX Composite Index was up 95.46 points or 0.38% at 24,986.14 a little while ago.
The Materials Capped Index is up 2.3%. Oceanagold Corp (OGC.TO), Orla Mining (OLA.TO), Wesdome Gold Mines (WDO.TO) and Iamgold Corp (IMG.TO) are up 6 to 7.3%.
Silvercrest Metals (SIL.TO), Pan American Silver Corp (PAAS.TO), Kinross Gold Corp (K.TO), K92 Mining (KNT.TO), Calibre Mining (CXB.TO), Eldorado Gold (ELD.TO) and MAG Silver Corp (MAG.TO) are gaining 4 to 5.4%.
The Energy Capped Index is up 1.2%. Birchcliff Energy (BIR.TO), Tamarack Valley Energy (TVE.TO), Vermilion Energy (VET.TO), Headwater Exploration (HWX.TO), Arc Resources (ARX.TO) and Whitecap Resources (WCP.TO) are up 2 to 3.4%.
Consumer staples stocks Loblaw (L.TO), George Weston (WN.TO), Empire Company (EMP.A.TO), Alimentation Couche-Tard (ATD.TO) and The North West Company (NWC.TO) are down 1 to 2%.
Data from Canada Mortgage & Housing Corporation showed housing starts in Canada increased by 7.8% month-over-month to 240,761 units in October, the highest level in three months.
Dollar Slips Against Major Counterparts
Swiss Market Ends Marginally Up
European Stocks Close On Mixed Note
U.S. Homebuilder Confidence Improves Much More Than Expected In November
Spirit Airlines Files For Chapter 11 Bankruptcy Protection; Stock Drops
Bay Street Likely To Open On Positive Note
CPI Uptick, Fed Hints Boost Dollar Again
