The Canadian stock market is up firmly in positive territory a little past noon on Thursday, with several stocks from across various sectors adding to their recent gains amid continued optimism about quick global economic recovery.
The passage of the $1.9 trillion stimulus bill in the U.S. House of Representatives, fairly stable bond are aiding sentiment. U.S. President Joe Biden is expected to sign the bill in the coming days.
Information technology and healthcare stocks are among the most prominent gainers. Stocks from utilities, materials, energy and consumer discretionary sections are also mostly higher, while financial, industrial and consumer staples stocks are turning in a mixed performance.
The benchmark S&P/TSX Composite Index was up 183.07 points or 0.98% at 18,873.07, a new all-time high, about half an hour past noon.
Docebo Inc. (DCBO.TO), up 8.25%, is the biggest gainer in the Technology Index. Lightspeed Pos (LSPD.TO) is rising 6.7%, while Enghouse Systems (ENGH.TO), Shopify Inc. (SHOP.TO), Absolute Software (ABST.TO), Kinaxis Inc (KXS.TO), BlackBerry (BB.TO), Sierra Wireless (SW.TO) and CGI Inc (GIB.A.TO) are gaining 2.5 to 4%.
Healthcare stocks Trillium Therapeutics (TRIL.TO) and Canopy Growth Corp (WEED.TO) are gaining 4.3% and 3.7%, respectively. Aphria Inc. (APHA.TO), Aurinia Pharmaceuticals (AUP.TO), Cronos Group (CRON.TO) and Aurora Cannabis (ACB.TO) are up 1.8 to 3%.
In the materials section, Hudbay Minerals (HBM.TO) is moving up more than 8%. First Quantum Minerals (FM.TO) is rising 5.5%, while Ero Copper (ERO.TO), Teck Resources (TECK.B.TO), Franco-Nevada Corp (FNV.TO) and Lundin Mining (LUN.TO) are up 4 to 5%.
Tourmaline Oil Corp (TOU.TO), Enerplus Corp (ERF.TO), Suncor Energy (SU.TO) and Imperial Oil (IMO.TO) are among the major gainers in the energy sector.
Linamar Corp (LNR.TO), up more than 10%, is the biggest gainer in the consumer discretionary section. Linamar announced on Wednesday that its net income rose to $113.1 million, or $1.73 per diluted share in the final three months of 2020, up from $49.7 million, or 76 cents per share, in the fourth quarter of 2019.
Among financials, Royal Bank of Canada (RY.TO), National Bank of Canada (NA.TO), Sun Life Financial (SLF.TO) and Toronto-Dominion Bank (TD.TO) are gaining 0.5 to 1%.
For comments and feedback contact: editorial@rttnews.com
