Canadian market in positive territory; Gathering of technological stocks
(RTTNews) – The Canadian market remains fairly well placed in positive territory late Thursday morning after opening slightly higher.
Technology stocks are leading the market to the top. Energy stocks are also doing reasonably well, while materials, healthcare, consumer discretionary and industrials stocks have a mixed performance.
The benchmark S & P / TSX Composite Index is up 84.41 points or 0.4% to $ 21,632.84 about half an hour before noon.
Hut 8 Mining Corp (HUT.TO), up 5.7%, is the biggest winner in the information technology index. Lightspeed Pos (LSPD.TO) gains nearly 4% and Dye & Durham (DND.TO) is up 3.1%, while Alithya Group (ALYA.TO) and Tecsys Inc (TCS.TO) are up of 2.3% and 2.1%, respectively. CGI Group (GIB.A.TO), Shopify Inc (SHOP.TO), Enghouse Systems (ENGH.TO), Descartes Systems (DSG.TO) and Haivision Systems (HAI.TO) also recorded strong gains.
MEG Energy (MEG.TO), Suncor Energy (SU.TO), Tourmaline Oil Corp (TOU.TO), PrairieSky Royalty (PSK.TO) and Cenovus Energy (CVE.TO) are among the notable winners in the ‘energy.
According to a report released by the Canadian Federation of Independent Business, the CFIB’s long-term Business Barometer index rose 1.7 points to 62.2 in November, the highest figure since August.
Data released by Statistics Canada showed that the average weekly earnings of salaried non-farm workers in Canada increased 2.6% year-on-year to C $ 1,137 in September, and were little changed from the previous month. This is the biggest increase since March.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.