Canadian stocks rallied at open Tuesday amid buying across a variety of sectors, with commodities tuning in particularly strong performances. The S&P/TSX Composite Index gained 249.01 points or 2.15 percent to 11,845.57.
The Diversified Materials Index surged about 5 percent, with Inmet Mining (IMN.TO), Teck Resources (TCK_B.TO) and First Quantum Minerals (FM.TO) gaining around 5 percent each.
In the oil patch, MEG Energy (MEG.TO), Cenovus Energy (CVE.TO) and Imperial Oil (IMO.TO) moved up around 3 percent each.
Among gold stocks, Royal Gold (RGL.TO) and Barrick Gold (ABX.TO) were up around 2 percent each.
Meanwhile, Peyto Exploration & Development Corp (PEY.TO) slipped 2 percent after it said it would acquire Open Range Energy Corp (ONR.TO) on the basis of 0.0696 of its share for each Open Range common share. Shares of Open Range skyrocketed 27 percent to C$1.300.
by RTT Staff Writer
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