Canadian Shares Up In Positive Territory
(RTTNews) - The Canadian stock market is up in positive territory Monday morning after a steady start, tracking cues from European shares and fairly steady crude oil and gold prices
Energy, industrial and healthcare stocks are among the notable gainers. A few stocks from consumer discretionary, information technology and mining sections too have edged higher.
With the U.S. market shut today for Memorial Day, activity is somewhat subdued in the Canadian market.
The benchmark S&P/TSX Composite Index is up 52.35 points, or 0.32%, at 16,282.39.
In the mining space, Eldorado Gold Corporation (ELD.TO) is soaring nearly 14% on strong volumes.
Kinross Gold Corporation (K.TO) is advancing 1.2%, while Kirkland Lake Gold (KL.TO) is declining nearly 5% and B2Gold Corp (BTO.TO) is down by about 0.75%.
In the energy space, Suncor Energy (SU.TO) and Canadian Natural Resources (CNQ.TO) are up 1.3% and 1.2%, respectively. Encana Corporation (ECA.TO) is down marginally.
Cannabis stocks Aphria Inc. (APHA.TO) and Hexo Corp. (HEXO.TO) are up 3% and 2.5%, respectively. Cronos Group (CRON.TO) is gaining nearly 5%. Aurora Cannabis (ACB.TO) is up by about 0.8%.
CannTrust Holdings (TRST.TO) is up 1.2%. CannTrust announced that it has launched a cannabis education portal with Well.ca, which will serve as a resource and education centre for those interested in exploring medical cannabis, leveraging content, insights and expertise from CannTrust's medical business.
In the financial space, Bank of Nova Scotia (BNS.TO) is up 0.3%. Manulife Financial Corporation (MFC.TO) is rising 0.7%.
In commodities, crude oil futures for July are gaining $0.20, or 0.34%, at $58.83 a barrel.
Gold futures for June are up $1.00, or 0.08%, at $1,284.60 an ounce.
Silver futures for July are up marginally at $14.570 an ounce, while Copper futures for July are gaining $0.0115, or 0.43%, at $2.7110 per pound.
European markets ended higher with investors reacting positively to European Union election results.
The centre-right European People's Party obtained most of the seats in the European Parliament. Gains of populist and Eurosceptic parties are not much stronger as anticipated.
Asian markets ended mixed amid lingering concerns about U.S.-China trade tensions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.