Markets

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.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More