(RTTNews.com) - The Canadian stock market is climbing again in early trade Tuesday. The market has risen for eleven straight sessions. Healthcare energy and financial stocks are leading the way higher this morning, while gold and information technology stocks are under pressure.
After a flat performance this morning, markets in Europe are logging modest gains in the afternoon. Bank of England Governor Mark Carney said on Tuesday that interest rates are set to rise at a gentle pace and the slowdown seen in the first quarter was temporary.
Markets on Wall Street opened slightly higher Tuesday morning, but have since pared their early gains. The markets are struggling to add to yesterday's strong gains amidst a lack of U.S. economic data.
The benchmark S&P/TSX Composite Index is up 60.52 points or 0.37 percent at 16,222.83.
On Friday, the index closed up 18.76 points or 0.12 percent, at 16,162.31. The index scaled an intraday high of 16,168.23 and a low of 16,107.96.
The Capped Healthcare Index is higher by 2.32 percent. ProMetic Life Sciences (PLI.TO) is climbing 1.37 percent and Extendicare (EXE.TO) is rising 0.65 percent.
The Energy Index is rising 0.95 percent. Crude oil prices continue to rise Tuesday morning on demand hopes in the wake of the recent announcement that U.S. and China have set aside their trade squabble.
Husky Energy (HSE.TO) is up 0.31 percent and Imperial Oil (IMO.TO) is higher by 1.02 percent. Canadian Natural Resources (CNQ.TO) is rising 0.46 percent and Suncor Energy (SU.TO) is advancing 0.53 percent. Encana (ECA.TO) is climbing 2.02 percent and Crescent Point Energy (CPG.TO) is gaining 1.83 percent. Cenovus Energy (CVE.TO) is adding 1.83 percent.
The heavyweight Financial Index is increasing 0.65 percent. Canadian Imperial Bank of Commerce (CM.TO) is up 0.43 percent and Bank of Nova Scotia (BNS.TO) is higher by 0.35 percent. Royal Bank of Canada (RY.TO) is gaining 0.97 percent and Toronto-Dominion Bank (TD.TO) is rising 0.63 percent. Bank of Montreal (BMO.TO) is climbing 0.89 percent and National Bank of Canada (NA.TO) is adding 0.49 percent.
The Capped Industrials Index is up 0.40 percent. Canadian Pacific Railway (CP.TO) is gaining 0.44 percent and Bombardier (BBD-B.TO) is rising 0.47 percent. WestJet Airlines (WJA.TO) is increasing 0.79 percent and Finning International (FTT.TO) is adding 0.88 percent.
The Capped Information Technology Index is losing 1.24 percent. BlackBerry (BB.TO) is decreasing 0.27 percent and Descartes Systems Group (DSG.TO) is down 1.46 percent. Sierra Wireless (SW.TO) is losing 1.83 percent.
The Gold Index is decreasing 0.27 percent. Gold prices are nearly flat Tuesday morning.
IAMGOLD (IMG.TO) is down 0.52 percent and Yamana Gold (YRI.TO) is dipping 0.28 percent. Kinross Gold (K.TO) is weakening by 0.86 percent and B2Gold (BTO.TO) is forfeiting 1.45 percent.
CCL Industries Inc.(CCL-B.TO) is gaining 0.61 percent after it announced that it will acquire Nortec.
SNC-Lavalin (SNC.TO) is rising 0.40 percent after it reached a settlement agreement in relation to class actions in Quebec and Ontario. The company will pay $88 million total. Shares were rated outperform at Scotiabank.
On the economic front, Canada's wholesale sales rose 1.1% to $62.8 billion in March, more than offsetting the decline in February. Analysts expected a 0.8% increase. The motor vehicle and parts subsector contributed the most to the gain.
The UK budget deficit narrowed in April, the Office for National Statistics reported Tuesday. Public sector net borrowing, excluding public sector banks, decreased GBP 1.6 billion to GBP 7.8 billion in April. This was the lowest April net borrowing since 2008. The expected level was GBP 8.5 billion.
In commodities, crude oil futures for June delivery are up 0.05 or 0.07 percent at $72.40 a barrel.
Natural gas for June is up 0.064 or 2.28 percent at $2.874 per million btu.
Gold futures for June are up 0.40 or 0.03 percent at $1,291.30 an ounce.
Silver for July is up 0.05 or 0.30 percent at $16.57 an ounce.
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