Canadian Market Modestly Higher; Energy, Healthcare Shares Rally

(RTTNews) - The Canadian stock market is modestly higher Monday afternoon, riding on strong gains in energy and healthcare sectors.

The mood is somewhat cautious amid a lack of significant triggers. Information technology and real estate stocks are weak, while select financial, materials and consumer discretionary shares are up with notable gains.

The benchmark S&P/TSX Composite Index is up 71.18 points or 0.35% at 20,473.84 about a couple of hours past noon.

The Capped Energy Index is climbing 3.25%, with top stocks in the section rallying sharply on higher crude oil prices. West Texas Intermediate Crude oil futures for November are up $1.53 or 2.07% at $75.51 a barrel.

Crescent Point Energy (CPG.TO) is soaring nearly 10%, Enerplus Corp (ERF.TO) is gaining 8% and Whitecap Resources (WCP.TO) is rising 7.2%.

MEG Energy (MEG.TO) is up 6.75%, Vermilion Energy (VET.TO) is up nearly 6%, Cenovus Energy (CVE.TO) and Arc Resources (ARX.TO) both are gaining 4.3%, and Suncor Energy (SU.TO) is up 3.7%.

The Capped Healthcare Index is up 2.5%, with marijuana stocks climbing higher amid rising prospects for full-scale marijuana legalization in Washington.

Aurora Cannabis (ACB.TO) is up more than 7%. The company is scheduled to announce its quarterly results later in the day.

Canopy Growth Corp (WEED.TO), Tilray Inc (TLRY.TO) and Cronos Group (CRON.TO) are up 5.3%, 4.3% and 3.2%, respectively. Organigram Holdings is gaining 3%.