TSX Jumps 76 Points at Midday on Mining, Info Tech Gain
The TSX was ahead by 76 points at midday, building on its earlier gain and led higher by advancing mining and info tech stocks.
Investors are still hoping there would ultimately be a reduction in oil output after major producers Saudi Arabia and Russia agreed to keep output at January levels. However, the deal is dependent on Iran and Iraq joining in, which is not expected to happen. At last peek, Brent was down 2.9% at US$32.42/barrel, while the WTI plunged 1.1% to US$29.12/barrel.
Mining, up 4.7%, was the strongest group after copper prices climbed and was followed by info tech, which gained 1.5%. Financials rose 1.2%. Only energy was in the red, slipping 0.2%.
Total volume traded so far reached 210.4 million shares. Pengrowth Energy (PGF.TO) was the most actively traded stock.
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