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TSX Clings to Triple-Digit Gain As Miners, Energy Continue to Lead Widespread Climb; Up 157 Points Mid-Afternoon

The TSX held on to huge gains and was ahead by 157 points in the mid-afternoon session as stocks follow mining and energy shares higher.

Investors have set aside disappointing Canadian GDP data and focused instead on a U.S. EIA report that revealed a 5.9 million barrels drop in crude inventories from the previous week.

Adding to the already cheery mood is a statement from OPEC in the oil cartel's world oil report that said: "Current medium-term supply projections represent a downward revision of 1 mb/d compared to last year's Outlook, primarily due to the lower oil price environment and resulting investment cuts."

Brent crude was last up 3.3% at US$37.29/barrel, while the WTI crude rose 3.6% to US$37.44/barrel.

The mining and energy groups advanced 8.3% and 4.7%, respectively. Other significant gainers were healthcare and utilities, which were both ahead by 1%.

Total volume traded already exceeded 228 million shares. First Quantum Minerals (FM.TO) was the most actively traded stock.

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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