Canadian Market Up Marginally In Cautious Trade

(RTTNews) - The Canadian stock market is up marginally in positive territory Monday afternoon, led by gains in energy stocks after crude oil prices rose sharply.

The activity is somewhat subdued otherwise with investors looking for direction. The U.S. market is closed for the extended 4th of July weekend.

The benchmark S&P/TSX Composite Index is up by 26.00 points or 0.13% at 20,252.11 about an hour past noon.

Among energy stocks, Whitecap Resources (WCP.TO) is up 2.7%. Suncor Energy (SU.TO) is up nearly 2%, while Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO), Canadian Natural Resources (CNQ.TO), Enerplus Corp (ERF.TO), MEG Energy (MEG.TO) and Vermilion Energy (VET.TO) are gaining 1 to 1.5%.

Real estate stocks Cominar RE (CUF.UN.TO), Dream Office (D.UN.TO), Interrent Real Estate (IIP.UN.TO) and Dream Industrial REIT (DIR.UN.TO) are gaining 1 to 1.7%.

Information technology stocks BlackBerry (BB.TO) and Alithya Corp (ALYA.TO) are up 2.3% and 1.2%, respectively. Lightspeed Pos (LSPD.TO) is up nearly 1% and Tecys Inc (TCS.TO) is gaining 0.86%.

The Business Outlook Survey indicator in Canada rose to 4.17 in the second quarter of 2021 from an upwardly revised 2.95 in the previous period, the Bank of Canada said today.