(RTTNews) - After posting losses in the previous three sessions, the Canadian market posted a marginal gain on Tuesday, as energy stocks climbed higher on firm crude oil prices. Slight optimism about an interest rate cut by the Federal Reserve later this year aided sentiment.
The benchmark S&P/TSX Composite Index, which touched a high of 21,708.06 a little past noon, ended the session with a gain of 23.42 points or 0.11% at 21,611.30.
Energy stocks Vermilion Energy (VET.TO), International Petroleum Corp (IPCO.TO), Whitecap Resources (WCP.TO), Advantage Oil & Gas (AAV.TO), Canadian Natural Resources (CNQ.TO), Cenovus Energy (CVE.TO) and Veren Inc (VRN.TO) gained 2 to 3%.
In the materials sector, Capstone Mining Corp (CS.TO) and Iamgold Corp (IMG.TO) climbed 5.7% and 4.3%, respectively. First Quantum Minerals (FM.TO), New Gold (NGD.TO), Wesdome Gold Mines (WDO.TO), Fortuna Silver Mines (FVI.TO), First Majestic Silver (AG.TO) and Eldorado Gold (ELD.TO) gained 2 to 3.1%.
Among other gainers, Molson Coors Canada (TPX.A.TO) climbed 6.1%. Cae Inc (CAE.TO, Badger Infrastructure (BDGI.TO), Celestica Inc (CLS.TO), Cameco Corporation (CCO.TO) and Bombardier Inc (BBD.A.TO) ended higher by 2 to 4.5%.
Atco (ACO.Y.TO), Shopify Inc (SHOP.TO), Canadian National Railway (CNR.TO), CGI Inc (GIB.A.TO), West Fraser Timber (WFG.TO) and Colliers International (CIGI.TO) ended notably lower.
