Markets

TSX Grows Earlier Gains As Financials, Healthcare Lead Rally; Up 137 Points at Midday

The TSX gained 137 points at midday, building on its earlier strength, sparked by optimism Greece would be able to secure aid before it goes bankrupt. All sectors except energy were in the positive territory.

Greece presented new reform proposals hoping to score a $59 billion assistance that would help payoff its debt until 2018. And a German senior lawmaker was cited by Reuters as saying that the latest proposals Greek Prime Minister Alexis Tsipras presented are reflective of the country's eagerness to improve its economy. Reuters also noted that France and Italy "welcomed" Greece's new reform proposals.

Meanwhile, oil prices were under pressure on Friday on reports Iran and global powers have given themselves more time to produce a deal as they try to settle a dispute over Iran's nuclear program. Brent crude slipped to US$58.18 a barrel recently.

Healthcare was the biggest gainer, ahead 1.41%, and was trailed by financials, which advanced 1.28%. Miners were up only by 0.77%, with copper prices still in the red.

The sole decliner, energy, was down 0.30%.

Total volume traded so far reached 120.8 million shares. Bombardier (BBD-B.TO) was still 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