Canadian Market Modestly Higher

(RTTNews) - The Canadian market is up in positive territory in late afternoon trades on Wednesday amid optimism about interest rate cuts by several central banks during the second half of the current year.

Healthcare, materials and real estate stocks are among the prominent gainers. Several stocks from communications, utilities, consumer discretionary and industrials sectors are also notably higher.

The benchmark S&P/TSX Composite Index is up 73.96 points or 0.34% at 21,986.48, an hour before noon.

Endeavour Mining Inc (EDV.TO) is up 6%. The company reported adjusted net earnings of $42 million or $0.17 per share for the fourth quarter, compared to prior year's $14 million or $0.06 per share.

Alamos Gold (AGI.TO) is gaining about 5.8%. Nuvei Corporation (NVEI.TO), Newmont Corporation (NGT.TO), Wheaton Precious Metals (WPM.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) are up 2 to 3%.

Teck Resources (TECK.B.TO), Boyd Group Services (BYD.TO), Colliers International (CIGI.TO), Dayforce (DAY.TO), Dollarama Inc (DOL.TO) and Cargojet (CJT.TO) are gaining 1 to 1.8%.

Healthcare stocks Tilray Inc (TLRY.TO) and Bausch Health Companies (BHC.TO) are up 4.5% and 2%, respectively.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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