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Canadian Shares Rising On Bargain Hunting

(RTTNews) - Canadian stocks are up in positive territory Monday morning, after opening on a firm note with investors picking up shares from across various sectors, despite lingering concerns about the impact of the fast spreading coronavirus on the global economy.

Information technology, industrial, consumer discretionary, financial and healthcare shares are among the notable gainers. Materials and energy shares are exhibiting weakness.

The benchmark S&P/TSX Composite Index, which advanced to 17,441.57, is up 80.87 points, or 0.47%, at 17,399.36 a little before noon.

In information technology sector, Open Text Corp (OTEX.TO) and Lightspeed Pos (LSPD.TO) are up 2.5% and 2.3%, respectively. Absolute Software Corp (ABT.TO), Constellation Software (CSU.TO), Kinaxis Inc. (KXS.TO), Blackberry (BB.TO) and Descartes Systems Group (DSG.TO) are gaining 1.5 to 2%.

Among the stocks in the industrial space, Bombardier Inc. (BBD.B.TO), Ballard Power Systems (BLDP.TO) and Boyd Group Services (BYD.TO) are up 3.75 to 4%. Waste Connections (WCN.TO), Transcontinental Inc. (TCL.A.TO), New Flyer Industries (NFI.TO) and Thomson Reuters (TRI.TO) are gaining 1.3 to 2%.
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