Markets

TSX Climbs More Than 200 Points Mid-Afternoon; Resources Continue Rally, Healthcare, Telecoms Turn Positive

The TSX surged 211 points in the mid-afternoon session, adding significantly to its earlier gains, after health care and telecom stocks took a turn for the better and energy and mining issues continued their winning streak.

Oil prices were back in the positive territory in the afternoon trade as investors seemingly focused more on the U.S. Energy Information Administration's bullish forecast on global oil demand for 2016 despite the agency reporting just recently a bigger-than-expected increase in crude inventories in the last week. At last check, global benchmark Brent was up 0.60% at US$52.23/barrel, while the U.S. crude gauge WTI edged up 0.16% to US$48.61/barrel.

Prices for gold and copper remained firm, with the bullion rising 0.26% to US$1,149.40/ounce and copper up 0.68% to US$2.371/pound.

The mining and energy groups advanced 9.59% and 2.98%, respectively, while financials jumped 1.08%. Earlier decliners health care and telecoms turned to gains of 0.87% and 0.02%, respectively.

Total volume traded already exceeded 340 million shares. Bombardier (BBD-B.TO) was the most actively traded stock.

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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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