The Canadian market is up firmly in positive territory Monday afternoon with stocks from several sectors posting strong gains thanks to sustained buying support amid rising hopes of interest rate cuts by several central banks, including the Fed, European Central Bank and the Bank of Canada.
The Canadian market ended sharply higher on Monday, extending gains to a third straight session, thanks to firm commodity prices and rising optimism about interest rate cuts by several central banks, including the Federal Reserve and the Bank of India, by the later part of the second quarter, or early third quarter.
After opening negative gap and plunging deeper into the red Thursday morning, the Canadian market recovered gradually and moved into positive territory around mid afternoon to eventually end the day's session marginally up, thanks to strong buying in materials stocks.
After opening negative gap and plunging deeper into the red Thursday morning, the Canadian market recovered gradually and moved into positive territory around mid afternoon to eventually end the day's session marginally up, thanks to strong buying in materials stocks.
The Canadian market failed to hold early gains and ended lower on Monday, pulled down by losses in healthcare, industrials, utilities and consumer discretionary stocks.