Planes, trains, autos eclipse miners in fabric of Canada market

Move over materials, there’s a new kid on the block. The C$300-billion industrials group has ousted miners and forestry stocks to become the third-most valuable collection of companies on Canada’s equity market, behind banks and energy.

Comprised mainly of transportation, engineering and construction stocks, industrials are generally seen as cyclical stocks and had blockbuster gains last year with a 24% rally. That was behind only tech and utilities.