(RTTNews) – The Canadian stock market is up in positive territory, riding on gains in healthcare, information technology and industrial sections, even as markets in the U.S. and Europe pared early gains amid cautious moves by investors.
The undertone on Bay Street is a bit cautious, with investors looking ahead to the central bank’s rate decision tomorrow. It is widely expected that Bank of Canada will hold interest rates unchanged. The market is awaiting the bank’s views on growth and future policy stance.
The benchmark S&P/TSX Composite Index is up 44.40 points, or 0.28%, at 16,082.53
The Capped Healthcare Index is gaining 2.3%. Aurora Cannabis Inc. (ACB.TO) is rising 7.2%, Cronos Group Inc. (CRON.TO) is up 4.7% and Green Organic Dutchman Holdings (TGOD.TO) is moving up 5.5%.
Out of the top ten stocks in the Capped Information Technology Index, as many as eight are up in positive territory, gaining between 0.4% and 1%. Solium Capital (SUM.TO) and Celestica Inc. (CLS.TO) are the two stocks down in negative territory with marginal losses.
In the industrials space, Canadian National Railway (CNR.TO), Canadian Pacific Railway (CP.TO), Waste Connections (WCN.TO) and Thomson Reuters Corporation (TRI.TO) are gaining 1 to 1.6%.
Among bank stocks, Bank of Nova Scotia (BNS.TO) is declining 0.6% and National Bank of Canada (NA.TO) is down 0.4%. Royal Bank of Canada (RY.TO) and Bank of Montreal (BMO.TO) are modestly higher, while Canadian Imperial Bank of Commerce (CM.TO) and Toronto-Dominion Bank (TD.TO) are flat.
Among energy stocks, Encana Corporation (ECA.TO), Enbridge Inc. (ENB.TO) and Suncor Energy (SU.TO) are modestly higher, while Cenovus Energy (CVE.TO) and Crescent Point Energy (CPG.TO) are down 0.6% and 0.7%, respectively.
In the materials space, Barrick Gold Corporation (ABX.TO) and HudBay Minerals (HBM.TO) are slightly up, while Kinross Gold (K.TO) is down marginally.
U.S. stocks are mostly sluggish with investors looking for direction. The Dow and S&P 500 are down marginally, while the Nasdaq is up with a small gain.
Major European markets look headed for a positive close. The U.K.’s FTSE 100 is gaining about 0.7%, while Germany’s DAX and France’s CAC 40 are up 0.26% and 0.12%, respectively.
In commodities, crude oil futures are gaining $0.11, or 0.19%, at $56.70 a barrel.
Gold futures are down $1.90, or 0.14%, at $1,285.60 an ounce.
Silver futures for May are gaining $0.035, or 0.23%, at $15.140 an ounce.