Canadian Market Set To End On Bright Note

(RTTNews) - The Canadian is up firmly in positive territory Thursday afternoon, and looks well on course to end the session on a buoyant note with stocks from technology, energy, industrials and financials sectors continuing to attract strong buying.

The benchmark S&P/TSX Composite Index is up 340.82 points or 1.36% at 25,377.28.

Celestica Inc (CLS.TO) is up 6%. Canadian Tire Corporation (CTC.TO), Bombardier Inc (BBD.A.TO), Cameco Corporation (CCO.TO) and Tourmaline Oil Corporation (TOU.TO) are up 4 to 5%.

AtkinsRealis Group (ATRL.TO), Dayforce (DAY.TO), Magna International (MG.TO), Metro Inc (MRU.TO), Royal Bank of Canada (RY.TO), Shopify Inc (SHOP.TO), TFI International (TFII.TO), Constellation Software (CSU.TO) and West Fraser Timber (WFG.TO) are gaining 2 to 3.4%.

Precision Drilling Corporation (PD.TO), Stantec Inc (STN.TO), WSP Global (WSP.TO), Canadian Pacific Kansas (CP.TO), Canadian National Railway (CNR.TO), Imperial Oil (IMO.TO), RB Global (RBA.TO), ONEX Corporation (ONEX.TO) and CGI Inc (GIB.A.TO) are also notably higher.

Silvercorp Metals (SVM.TO) shares are down nearly 7%.

Aya Gold & Silver (AYA.TO), Hut 8 Corp (HUT.TO), Dye & Durham (DND.TO), Endeavour Mining (EDV.TO), ATS Corporation (ATS.TO), BCE Inc (BCE.TO), MAG Silver Corp (MAG.TO) and Molson Coors Canada (TPX.B.TO) are down 1.6 to 4%.

Data from Statistics Canada showed industrial producer prices in Canada rose by 1.2% month-over-month in October, rebounding from a revised 0.8% decline in the previous month. On yearly basis, producer prices rose by 1.1% in October, after a revised 1% fall in the previous month.

The Raw Materials Price Index in Canada rose 3.8% month-over-month in October, rebounding from two consecutive monthly declines. Year-on-year, the Raw Materials Price Index dropped 2.8%, marking the third straight annual decline.