TSX Further Gains on Energy, Mining Rally; Up 87 Points Mid-Afternoon
The TSX climbed higher mid-afternoon, gaining as much as 87 points, as energy and mining stocks extended their earlier rally on the back of rising copper and oil prices . Soft health care stocks, however, continued to limit the advance.
Oil and copper prices were higher on Tuesday despite a firmer U.S. dollar. Brent crude was up 2.30% at US$48.43/barrel, while the WTI rose 2.57% to US$45.57/barrel, ahead of Wednesday's EIA U.S. production report, which is expected to reveal slowing U.S. production figures. Copper edged up 0.18% to US$2.2555/pound.
By mid-afternoon, the mining and energy sectors were both advancing by 2.30%. Utilities gained 0.95%, and financials jumped 0.74%. Health care was the only group in the negative territory, plunging 1.97%.
Total volume traded so far exceeded 197 million shares. First Quantum Minerals (FM.TO) was the most actively traded stock.
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