TSX Up 81 Points Mid-Afternoon; Financials Still In The Lead
The TSX rose 81 points in the mid-afternoon session, still boosted by financial stocks, with material stocks limiting the climb.
Investors cheered the prospects of simpler U.S. bank regulations, which would benefit many large Canadian banks that have operations in the U.S.
Meanwhile, oil was still in the green after the dollar eased, likely on the back of the softer hourly earnings figure. Action Economics said U.S. talks sanctions against Iran, following its ballistic missile test earlier in the week. On the supply front, the tug of war between OPEC production cuts, and increases U.S. shale drilling continues, and the market will look to the 1 pm ET release of the Baker-Hughes rig count for clues on which side is winning.
Financials were ahead 0.9% while energy gained 0.01%. On the negative side, mining and metals shed 2.1% and 2.9%, respectively.
Total volume traded was 208 million shares. Ensign Energy Services (ESI.TO) was the most actively traded stock.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.