TSX Up 54 Points Mid-Afternoon As Financials Drive Gains; Energy Still a Drag
The TSX was up 54 points mid-afternoon and close to a session high of 15,181.53, supported by the continued buying momentum in financial stocks. Limiting the climb, however, were embattled energy shares.
Financials led the upward movers, advancing 1.13%, with Royal Bank of Canada (RY.TO) posting the largest gain of 1.45% among the six biggest banks. Info tech came in second, up 0.97%. Gains for the metals and mining group, however, were reduced to 0.30% due to the persistent weakness in gold and copper prices .
On the negative side, energy stocks tumbled 0.89%, which is a wider loss relative to midday, as Brent crude oil prices fall below the US$64-per-barrel threshold with the continued decline. Utilities shed 0.74%.
Total volume traded already exceeded 180 million shares. Stingray Digital Group (RAY-A.TO) was still the most heavily traded stock.
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