India, Oct. 8 -- The Canadian market is modestly higher Thursday afternoon with stocks from energy and consumer staples sectors posting strong gains. Technology stocks are weak.
Higher oil prices and bond yields amid an escalation in Middle East tensions rendered the mood cautious at the start. However, stocks found some support subsequently and the market moved above the flat line.
Energy stocks rose as oil prices moved up sharply. According to reports, the White House asked Pentagon to develop options to strike Iran before the midterm elections, but no final decision has been made. Meanwhile, oil companies operating in the Gulf of Mexico have begun curbing production and evacuating personnel from offshore facilities.
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