Canadian Market Up Firmly In Positive Territory

(RTTNews) - The Canadian market remains firmly placed in positive territory Thursday afternoon, supported by gains in materials, industrials and financials sectors.

Technology stocks are a bit weak, while shares from rest of the sectors are turning in a mixed performance.

The mood is a bit positive thanks to Chinese stimulus hopes and firm metal prices.

The benchmark S&P/TSX Composite Index was up 144.50 points or 0.54% at 26,710.82 a little while ago.

NovaGold Resources, Teck Resources, Ero Copper, Lundin Mining, First Quantum Minerals, Chorus Aviation, Ballard Power Systems and Hudbay Minerals are up 5 to 8.5%.

Aurora Cannabis, Tilray, Ivanhoe Mines, Methanex, Organigram Holdings and Cameco are among the other prominent gainers.

Brookfield Asset Management is up 0.5%. The company said it would sell its Australian retirement home operator Aveo to The Living Company for A$3.85 billion.

Corus Entertainment is down by about 9%. BlackBerry, Aimia and Arc Resources are down 5.6%, 4.7% and 3.4%, respectively.

Shopify, Kinaxis, NorthWest Company and Dollarma are also notably lower.

On the economic front, In economic news, data from Statistics Canada showed average weekly earnings in Canada rose 4.4% in April (Year-on-Year), compared to a revised 4.06% rise in the previous month.

A separate data from Statistics Canada showed wholesale sales in Canada dropped by 0.4% in May, following a 2.3% decline in April.