Canadian Natural Resources (NYSE: CNQ) jumped 9.0% Thursday to its highest level this year and was trading back above its 200-day simple moving average. The energy provider has been dragged down by a 89% decline in fourth-quarter profit and lowered its 2016 capital budget about 22%.
Furthermore, the rebounding precious metals prices has helped prop up the miners space, with Comex gold futures now trading at $1,250 per ounce and Comex silver futures at $15.2 per ounce.
The materials sector makes up 10.0% of EWC’s underlying portfolio, 10.0% QCAN, 21.3% FCAN and a hefty 31.8% of CNDA.
iShares MSCI Canada ETF
Max Chen contributed to this article.