Canadian Market Pares Some Gains After Strong Rebound

(RTTNews) - The Canadian market rallied sharply after opening with a negative gap Monday morning, and despite paring gains in afternoon trades, is up marginally as communications, utilities and consumer staples stocks manage to hold on to a significant portion of their gains.

The benchmark S&P/TSX Composite Index, which climbed to 19,193.35, rising more than 250 points from an early low, was up 21.67 points or 0.11% at 19,137.31 a little while ago.

Brookfield Renewable Corporation (BEPC.TO) is gaining nearly 4%. Bombardier Inc (BBD.A.TO) is up 3.25% and FirstService Corp (FSV.TO) is up 2.1%.

Stantec Inc (STN.TO), Thomson Reuters Corporation (TRI.TO), CGI Inc (GIB.A.TO), Dollarama Inc (DOL.TO), WSP Global (WSP.TO), Canadian Tire Corporation (CTC.A.TO) and George Weston (WN.TO) are gaining 1 to 1.5%.

Dye & Durham (DND.TO) is plunging 11%. Nutrien (NTR.TO) is down 3.4%. Imperial Oil (IMO.TO), Methanex Corp (MX.TO), RB Global (RBA.TO), Canadian Natural Resources (CNQ.TO) and BRP Inc (DOO.TO) are down 1 to 2.3%.