- Toronto Stock Exchange's S&P/TSX composite index was up 142.24 points, or 0.69%, at 20,760.71
Canada's main stock index hit a one-month high on Thursday, as Canopy Growth Corp led gains in healthcare stocks and stronger commodities lifted energy and mining shares.
At 9:50 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 142.24 points, or 0.69%, at 20,760.71, helped by healthcare and energy stocks.
Canada's Canopy Growth Corp rose 3.6% after saying it would buy weed gummies maker Wana Brands for $297.5 million, as the world's biggest pot producer looks to expand in the US cannabis market.
The energy index rose 1.5%, touching it highest level since Jan. 2019 as crude prices jumped over 1%.
The materials sector, which includes precious and base metals miners, and fertilizer companies, added 0.9% as gold prices hit a one-month high on dollar strength and an easing in US bond yields.
"The Canadian market is getting a nice boost today from a rally in the United States, combined with the rally in oil as well as gold prices," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
After snapping a seven-month win streak in September, the Canadian equity index has gained 2.7% so far this month, aided by strength in commodity prices and hopes of a steady economic recovery.
Meanwhile, Canadian factory sales August rose 0.5% from July, on higher sales of petroleum and coal, chemicals and primary metals, Statistics Canada said.
Barrick Gold Corp gained 0.4% after the miner reported a nearly 5% rise in third-quarter gold production from the previous three months, as output jumped at its Veladero mine in Argentina.
Aritzia Inc and First Quantum Minerals Ltd were the largest percentage gainers on the TSX.
The TSX posted 17 new 52-week highs and no new lows.
Across all Canadian issues there were 52 new 52-week highs and 10 new lows, with total volume of 52.74 million shares.