Canadian Stocks Regaining Ground Following Recent Weakness

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(RTTNews) – After moving sharply lower over the past several sessions, Canadian stocks are regaining some ground during trading on Monday.

The benchmark S&P/TSX Composite Index is climbing 140.11 points or 0.7 percent to 19,070.59 after ending last Friday’s trading at its lowest closing level in over a year.

The rebound by Canadian stocks comes as traders go bargain hunting following the recent weakness, although trading activity is somewhat subdued amid the Juneteenth holiday in the U.S.

Telecom stocks have shown a substantial move to the upside on the day, driving the S&P/TSX Capped Communication Services Index up by 3.5 percent.

Commercial real estate and consumer discretionary stocks are also seeing notable strength, while gold stocks are moving to the downside.

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