The Canadian stock market is up firmly in positive territory Wednesday morning, led by strong gains in information and energy sections.
Several stocks from utilities, industrials, telecom, consumer discretionary and real estate sectors are also up with notable gains, while healthcare and materials shares are exhibiting some weakness.
The mood remains fairly bullish in the market amid continued optimism about a coronavirus vaccine from Pfizer Inc.
The benchmark S&P/TSX Composite Index is up 181.97 points or 1.1% at 16,797.34 about half an hour before noon.
The Capped Information Technology Index is up nearly 3%. Docebo Inc. (DCBO.TO) is up by about 5.5%, Absolute Software Corp (ABST.TO) is advancing 4.5%, Shopify Inc. (SHOP.TO) is surging up 4.4% and Lightspeed Pos (LSPD.TO) is gaining 3.7%.
Kinaxis Inc. (KXS.TO), Sierra Wireless (SW.TO), Open Text Corp (OTEX.TO), Constellation Software (CSU.TO) and Descartes Systems Group (DSG.TO) are up 2 to 3.3%.
CGI Group Inc. (GIB.A.TO) shares are gaining about 3%. The company reported net earnings of $251.9 million for the third quarter, down 22.3% compared with the same period last year, primarily due to a one time restructuring cost of $84.3 million in the quarter. Diluted earnings per share, as a result, were $0.96 compared to $1.19 last year.
The Capped Energy Index gained about 2%. Crescent Point Energy (CPG.TO) is rising 6% and Whitecap Resources (WCP.TO) is gaining 5.1%. Enerplus Corp (ERF.TO), MEG Energy (MEG.TO), Canadian Natural Resources (CNQ.TO), Vermilion Energy (VET.TO), Seven Generations Energy (VII.TO) and Parex Resources (PXT.TO) are up 3 to 5%.
Among other prominent gainers in the market, Great Canadian Gaming Corporation (GC.TO) shares are soaring more than 35%. The company announced on Tuesday that Apollo Global Management would acquire it for a consideration of C$2.16 billion.
Linamar Corporation (LNR.TO) is up 16% and Boyd Group Services (BYD.TO) is gaining 8%. Boyd Group reported adjusted net earnings of $21.8 million for the quarter ended September 2020, up 5.7% from net earnings of $20.7 million in the year-ago quarter.
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