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Canadian Market Looks Set To End On Firm Note
(RTTNews) - The Canadian market is up firmly in positive territory Friday afternoon and looks well on course to end the day's session on a firm note.
Healthcare and technology stocks are driving the market up. Shares from materials, industrials and consumer sectors are also finding good support, while stocks from rest of the sectors are turning in a mixed performance.
The benchmark S&P/TSX Composite Index is up 134.31 points or 0.66% at 20,475.75.
In economic news, retail sales in Canada likely rose 0.5% month-over-month in December of 2022, preliminary estimates showed. In November, retail sales dropped 0.1% from a month earlier, after seeing an increase of 1.3% (revised) in October.
Retail sales in Canada increased 5.2% in November of 2022, over the same month in the previous year, the data frm Statistics Canada showed.
Hut 8 Mining Corp (HUT.TO) is soaring more than 9%. Shopify Inc (SHOP.TO) is gaining 4.5% and Canopy Growth Corporation (WEED.TO) is up 4.3%.
Birchcliff Energy (BIR.TO) is up 2.8%, while BlackBerry (BB.TO), Algonquin Power & Utilities Corp (AQN.TO) and Canadian Natural Resources (CNQ.TO) are up 1 to 2%.
Magnet Forensics (MAGT.TO) is zooming nearly 14%. Goeasy (GSY.TO) is up 4%, while Cogeco (CGO.TO), Constellation Software (CSU.TO), Cogeco Communications (CCA.TO), Nutrien (NTR.TO), West Fraser Timber (WFG.TO) and Fairfax Financial Holdings (FFH.TO) are gaining 1.5 to 3%.
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