The Canadian stock market is modestly higher a little past noon on Friday, thanks to strong gains in materials section.
Shares from rest of the sectors are turning in a mixed performance amid lackluster moves by investors.
Data released by Statistics Canada this morning said the industrial product price index in Canada went up 0.1% month over month in July 2021, following an upwardly revised 0.3% rise in the prior month, according to a preliminary estimate. Year-over-year, the index advanced 16.2%, after an upwardly revised 17.4% jump in the previous month.
The benchmark S&P/TSX Composite Index is up 20.50 points or 0.1% at 20,541.10 about a quarter past noon. The index hit a new record high at 20,567.11 this morning.
The Capped Materials Index is up 1.6% as several stocks from the sector are moving up on strong bullion prices.
Pretivm Resources Inc (PVG.TO) is soaring nearly 15% on fairly buoyant results. "We accomplished another profitable quarter with $152.3 million in revenue, generated $50.7 million in free cash flow and we have reached a key turning point where our cash position now exceeds our debt," said Jacques Perron, President and Chief Executive Officer of Pretivm.
Wesdome Gold Mines (WDO.TO), Yamana Gold (YRI.TO), MAG Silver Corp (MAG.TO), Iamgold Corp (IMG.TO) and Equinox Gold Corp (EQX.TO) are gaining 4 to 5%. Kirkland Lake Gold (KL.TO), Fortuna Silver Mines (FVI.TO), Wheaton Precious Metals (WPM.TO), Sandstorm Gold (SSL.TO) and Seabridge Gold (SEA.TO) are also up with impressive gains.
Healthcare stock Trillium Therapeutics Inc. (TRIL.TO) is up 5.5% after the company reported net loss of $18.4 million for the second quarter ended June 30, 2021, compared to net loss of $23.2 million in the year-ago quarter. Net loss per share dropped to $0.18 in the latest quarter, from $0.28 per share a year ago.
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