(RTTNews) - The Canadian market is up firmly in positive territory Wednesday morning with several stocks from across various sectors moving higher on strong buying support.
Upbeat earnings announcements and optimism about growth lifted Asian markets today and the major markets in Europe are notably higher. U.S. stocks are surging up as well.
Healthcare, energy, industrials and information technology stocks are among the major gainers in the Canadian market. Several stocks from consumer staples, materials and financials sectors are also faring well.
The benchmark S&P/TSX Composite Index is up 222.54 points or 1.04% at 21,599.72.
Cameco Corporation (CCO.TO) is soaring more than 13% on strong volumes. Cameco reported adjusted net earnings of $23 million for the quarter ended December 2021, compared to adjusted net earnings of $48 million in the year-ago quarter. The company also announced that the board has approved a 50% increase to its annual dividend for 2022.
Canopy Growth Corporation (WEED.TO) is gaining nearly 11% despite the company reporting an 8% drop in third-quarter net revenue at $141 million compared to the year-ago quarter.
Aurora Cannabis (ACB.TO), Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO), Hut 8 Mining (HUT.TO), Crescent Point Energy (CPG.TO), Bombardier Inc (BBD.B.TO), Baytex Energy (BTE.TO) and Suncor Energy (SU.TO) are gaining 2 to 5%.
Mullen Group Ltd. (MTL.TO) shares are up nearly 2% after the company announced on Tuesday that its wholly owned subsidiaries APPS Cartage Inc. and APPS Cargo Terminals Inc. have entered into a multi-year agreement with Canadian National Railway (CNR.TO) for the railway to continue providing intermodal services to APPS Transport.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
