At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 24.56 points, or 0.15pc, at 16,495.85.

Eight of the index's 11 major sectors were in the positive territory, with gainers outnumbering decliners by a 1.20 to 1 ratio.

The consumer staples and utilities groups, which tend to receive more buying interest when investors are feeling defensive, rose 1.2pc and 0.8pc each, amid concerns over slowing global growth.

The energy sector dropped 0.4pc as US crude prices were up 1.2pc a barrel, while Brent crude added 1.4pc.

The heavyweight financial sector gained 0.3pc while the industrials sector rose 0.2pc.

The healthcare sector slipped 1.5pc, with Canopy Growth Co falling 4.7pc on co-CEO Bruce Linton's surprise exit.

The largest percentage gainers on the TSX were Cascades Inc, which jumped 3.6pc after TD Securities raised its price target on the shares of paper packaging companies.

Canopy Growth fell the most on the TSX and the second biggest decliner was Ensign Energy Services Inc, down 2.4pc.

Mullen Group Ltd rose 2.7pc after CIBC raised rating on its shares to "outperform" from "neutral".

The most heavily traded shares by volume were Prometic Life Sciences Inc, Moneta Porcupine Mines Inc, and Canopy Growth.

On the economic front, a Statistics Canada report showed rising exports of motor vehicles, aircraft and energy products helped Canada post a surprise C$762 million ($582 million) trade surplus in goods in May, only the second surplus seen since December 2016.

On the TSX 11.37 million shares traded.

The TSX posted four new 52-week highs and two new lows.

Across all Canadian issues there were 20 new 52-week highs and 11 new lows, with total volume of 35.85 million shares.