Canadian Market Moderately Higher; Energy, Utilities Shares Rise

(RTTNews) - The Canadian market is up in positive territory in late morning trades on Friday with stocks from energy and utilities sectors turning in a fine performance.

A few stocks from communications, consumer staples and financials sectors are notably higher, while shares from the rest of the sectors are mostly subdued.

The mood remains somewhat cautious amid concerns about escalating tensions in the Middle East and continued uncertainty about the outlook for Fed interest rates.

The benchmark S&P/TSX Composite Index is up 114.34 points or 0.53% at 21,822.78 about half an hour before noon.

Among energy stocks, Birchcliff Energy (BIR.TO) is gaining 4%. Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Vermilion Energy (VET.TO), Paramount Resources (POU.TO), Tamarack Valley Energy (TVE.TO), Tourmaline Oil Corp (TOU.TO), Nuvista Energy (NVA.TO), Suncor Energy (SU.TO) and Imperial Oil (IMO.TO) are up 1.7 to 2.2%.

In the Utilities sector, Brookfield Infra Partners (BIP.UN.TO), AltaGas (ALA.TO), Algonquin Power (AQN.TO), Canadian Utilities (CU.TO), Transalta Corp (TA.TO) and Atco (ACO.X.TO) are up 1 to 2.3%.

Among other gainers, Wajax Corporation (WJX.TO) is up 4.5%, Canadian Tire Corporation (CTC.TO) is up 3.5% and Methanex Corp (MX.TO) is rising 2.7%. BRP Inc (DOO.TO), Alimentation Couche-Tard (ATD.TO), Premium Brands Holdings Corporation (PBH.TO) and Bank of Montreal (BMO.TO) are up 1 to 2%.

Celestica Inc (CLS.TO) is down nearly 6%. Morguard Corporation (MRU.TO) is down 3%, while Dayforce (DAY.TO) and Stantec (STN.TO) are down 1.4% and 1%, respectively.