As we approach late afternoon, the Canadian market steers into the positive domain, spurred by expectations of interest rate reductions by multiple central banks throughout the latter half of this year.
Market movers include stocks from the healthcare, materials, and real estate sectors, making significant strides. A number of stocks from communication, utility, consumer discretionary, and industrial sectors are also witnessing commendable upward traction.
The bellwether S&P/TSX Composite Index has witnessed a surge of 73.96 points or 0.34%, reaching 21,986.48 just an hour ahead of noon.
Endeavour Mining Inc has seen a 6% hike in its shares. The company announced an adjustment in net earnings reporting a figure of $42 million or $0.17 per share for the last quarter, which significantly overshadows last year's $14 million or $0.06 per share.
Alamos Gold has experienced a gain of approximately 5.8%. Other companies like Nuvei Corporation, Newmont Corporation, Wheaton Precious Metals, Franco-Nevada Corporation, and Agnico Eagle Mines have seen their shares rise from 2 to 3%.
Companies like Teck Resources, Boyd Group Services, Colliers International, Dayforce, Dollarama Inc, and Cargojet are reaping gains from 1 to 1.8%.
In the healthcare sector, Tilray Inc and Bausch Health Companies have seen a rise in their shares by 4.5% and 2% respectively.
