Canadian Stocks Extending Rebound Off Recent Lows

Canadian stocks have moved mostly higher during trading on Tuesday, extending the rebound seen over the course of the previous session.

Continuing to regain ground after ending last Friday's trading at its lowest closing level in over a year, the benchmark S&P/TSX Composite Index is up 117.08 points or 0.6 percent at 19,300.71.

Energy stocks have helped lead the way higher, resulting in a 1.3 percent jump by the S&P/TSX Capped Energy Index.

The strength in the sector comes amid a rebound by the price of crude oil, with crude for August delivery climbing $1.15 to $109.14 a barrel after plummeting $7.26 to $107.99 a barrel last Friday.

Gold stocks are also moving higher despite a modest decrease by the price of the precious metal, while notable strength is also visible among technology and real estate stocks.

In economic news, Statistics Canada released a report showing Canadian retail sales increased 0.9 percent to C$60.7 billion in April.

Statistics Canada said sales were up in 6 of 11 subsectors, led by higher sales at general merchandise stores.

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