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FINWIRES

TSX up 360 Points With Miners, Financials Leading Gains

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-- The Toronto Stock Exchange is up 360 points at midday with miners (+5.2%) and financials (+15%), the best performers.

Energy and info tech, down 4.8% and 1.6%, respectively, are the worst performers.

Energy stocks are down as oil prices sink on hopes that the U.S. and Iran may be nearing a deal to re-open the Strait of Hormuz, media reports say.

In domestic news, the Ivey Purchasing Managers Index (PMI) data released Wednesday showed that Canadian economic activity grew in April at the fastest pace in seven months as employment and prices accelerated. The seasonally adjusted index rose to 57.7 last month from 49.7 in March, its highest level since September.

In stocks, Vermilion Energy (VET.TO) slumped over 12% to a fresh 52-week low, after it reported a first-quarter earnings miss.

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