TSX Up 67 Points at Midday; Energy Leading As Iraq Fears Boosts Oil Price, Healthcare Weakest Sector
The Canadian benchmark index rose 67 points at midday to 14976.22 in continuation of its earlier climb, as fears over the increasing violence in Iraq helped lift oil prices , benefiting energy stocks.
Northland Wealth Management Portfolio Manager David Cockfield reportedly said: "This is going to be another outstanding quarter for companies in the oil patch."
Energy shares were up by 1.51%, with crude oil edging higher by 0.08% to US$106.62 a barrel. Industrials followed, gaining 0.76%, after Bombardier (BBD-B.TO) jumped 3% on news it has been selected to become a part of a major consortium contracted to upgrade the High Speed North-North West Corridor rail signalling in Spain. Miners nudged higher by 0.31%, along with gold prices . The heavyweight financials were up 0.35%.
Meanwhile, healthcare was the biggest loser at midday after falling 0.53%, with Valeant Pharmaceuticals (VRX.TO) down 0.74%. Info tech and utilities were also in the negative territory, down 0.19% and 0.12%, respectively.
More than 120 million shares have changed hands so far. Amaya Gaming (AYA.TO) was the most actively traded and the biggest percentage gainer. Tekmira Pharmaceuticals (TKM.TO) was the biggest percentage loser.
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