Markets

TSX Up 85 Points Mid-Afternoon As Miners, Energy Stocks Push Higher

The TSX rose 85 points mid-afternoon, building on its earlier gain, with mining and energy stocks getting a boost from rising commodity prices, as the tension between Ukraine and Russia escalates. The commodity-sensitive index reached 14618.71.

"We've got lots of momentum here...I'm reasonably positive on the oil sector," Northland Wealth Management Portfolio Manager David Cockfield reportedly said while adding he believes the Canadian stock market would outperform its U.S. counterpart but would have to go through a correction at some point.

Miners were up 3.5%, after gold and copper prices increased 0.7% and 2.1%, respectively. Info tech was the second biggest gainer, up 1.1%. Energy shares gained 1%, with crude oil prices inching up by 0.6%. The heavyweight financial sector rose 0.1%.

The utilities sector, which was in the negative territory at midday, was flat mid-afternoon.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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