TSX Rises To New High; Materials Shares Rally

(RTTNews) - The Canadian market is up firmly in positive territory Friday afternoon after posting a new high for the third straight day. Materials stocks are contributing to the move up north, with firm metal prices triggering hectic buying at several counters in the sector.

The benchmark S&P/TSX Composite Index is up 159.67 or 0.65% at 24,850.15, a new high.

The Materials Capped Index is up 3.2%. Iamgold Corp (IMG.TO) is soaring 17.5%. First Majestic Silver Corp (AG.TO) is up with a gain of about 16%, and Fortuna Silver Corp (FVI.TO) is up 11.2%.

Pan American Silver Corp (PASS.TO), Seabridge Gold (SEA.TO), Ssr Mining (SSRM.TO), Silvercrest Metals (SIL.TO), MAG Silver Corp (MAG.TO), Wesdome Gold Mines (WDO.TO), Equinox Gold (EQX.TO) and Novagold (NG.TO) are up 6 to 8%. Agnico Eagle Mines (AEM.TO) and Wheaton Precious Metals (WPM.TO) are up 4.8% and 4.5%, respectively. Franco-Nevada Corporation (FNV.TO) is up 3.5%.

Among major gainers, Hut 8 Corp (HUT.TO) is up 12.5%. Sprott Inc (SII.TO), Magna International (MG.TO), Cameco Corporation (CCO.TO), Intact Financial Corporation (IFC.TO) and goeasy (GSY.TO) are up 1 to 4.3%.

Quebecor (QBR.A.TO), Ag Growth International (AFN.TO), Bombardier Inc (BBD.A.TO), Bausch + Lomb (BLCO.TO), Tecsys Inc (TCS.TO), Mty Food Group (MTY.TO) and Restaurant Brands International (QSR.TO) are down 1 to 4%.