Bay Street stocks extended gains at open Thursday as commodities rose after a surprise rate cut move by China. The S&P/TSX Composite Index added 76.08 points or 0.65 percent to 11,709.48.
The Diversified Materials Index was up close to 4 percent, with First Quantum Minerals (FM.TO) surging 5 percent. Inmet Mining (IMN.TO) and Teck Resources (TCK_B.TO) rose around 4 percent each.
In the oil patch, Cenovus Energy (CVE.TO) and Niko Resources (NKO.TO) gained close to 3 percent each.
Meanwhile, gold stocks were trading lower amid a fall in bullion prices. Barrick Gold (ABX.TO) and Seabridge Gold (SEA.TO) shed around 2 percent each.
Athletic apparel and accessories firm Lululemon Athletica Inc. (LLL.TO) dived 9 percent after reporting improved first-quarter net income that came in below consensus estimates.
Sandvine Corp. (SVC.TO) plummeted 15 percent after lowering its second quarter earnings guidance.
by RTT Staff Writer
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