Canadian Market Modestly Higher, Looks Headed For Positive Close

(RTTNews) - The Canadian market is up in positive territory Monday afternoon with energy and materials shares recording strong gains thanks to higher commodity prices. The mood remains a bit cautious amid concerns about geopolitical tensions, and uncertainty about the Federal Reserve's monetary policy moves.

The benchmark S&P/TSX Composite Index was up 95.46 points or 0.38% at 24,986.14 a little while ago.

The Materials Capped Index is up 2.3%. Oceanagold Corp (OGC.TO), Orla Mining (OLA.TO), Wesdome Gold Mines (WDO.TO) and Iamgold Corp (IMG.TO) are up 6 to 7.3%.

Silvercrest Metals (SIL.TO), Pan American Silver Corp (PAAS.TO), Kinross Gold Corp (K.TO), K92 Mining (KNT.TO), Calibre Mining (CXB.TO), Eldorado Gold (ELD.TO) and MAG Silver Corp (MAG.TO) are gaining 4 to 5.4%.

The Energy Capped Index is up 1.2%. Birchcliff Energy (BIR.TO), Tamarack Valley Energy (TVE.TO), Vermilion Energy (VET.TO), Headwater Exploration (HWX.TO), Arc Resources (ARX.TO) and Whitecap Resources (WCP.TO) are up 2 to 3.4%.

Consumer staples stocks Loblaw (L.TO), George Weston (WN.TO), Empire Company (EMP.A.TO), Alimentation Couche-Tard (ATD.TO) and The North West Company (NWC.TO) are down 1 to 2%.

Data from Canada Mortgage & Housing Corporation showed housing starts in Canada increased by 7.8% month-over-month to 240,761 units in October, the highest level in three months.