Authorization

TSX Ends Higher For 3rd Straight Session

(RTTNews) - The Canadian stock market ended on a strong note on Tuesday, extending recent gains, riding on strong buying in energy, mining and healthcare sections.

Shares from consumer discretionary, consumer staples and information technology sections too saw some good buying.

Financial stocks failed to hold early gains, while select shares from the industrial space edged higher.

The mood was cautious with investors looking ahead to the upcoming Federal Reserve's monetary policy meeting and weighing the likely impact of the ongoing trade disputes on the global economy.

The benchmark S&P/TSX Composite Index ended up 51.54 points, or 0.32%, at 16,353.45, slightly off the day's high of 16,360.10. In early trades, the index eased to 16,286.48.

On Friday, the index ended up by 62.65 points, or 0.39%, at 16,301.91.

Enerplus Corp. (ERF.TO) topped the list of gainers in the Energy index, surging up by about 6.6%. Encana Corp. (ECA.TO), Cenovus Energy (CVE.TO), Enerflex (EFX.TO), Precision Drilling (PD.TO), PrairieSky Royalty (PSK.TO), Tourmaline Oil Corp. (TOU.TO), Vermilion Energy (VET.TO) and Baytex Energy (BTE.TO) gained 2 to 3.5%. Canadian Natural Gas (CNQ.TO), Crescent Point Energy (CPG.TO) and Shawcor (SCL.TO) also rose sharply.

Among miners, Alacer Gold Corp. (ASR.TO) soared more than 10%. Novagold (NG.TO), Centerra Gold (CG.TO), Cascades Inc. (CAS.TO), Yamana Gold (YRI.TO), First Majestic Silver Corp. (FR.TO), Osisko Gold Royalties (OR.TO), MAG Silver Corp. (MAG.TO) and Winpak (WPK.TO), Iamgold (IMG.TO), Barrick Gold Corporation (ABX.TO) and Semafo (SMF.TO) gained 2 to 4%.

In the healthcare space, Cronos Group (CRON.TO) and Bausch Health Companies (BHC.TO) both gained about 2.5%. Canopy Growth Corporation (WEED.TO) and Knight Therapeutics (GUD.TO) ended higher by 1.4% and 1.2%, respectively.

Consumer staples shares Alimentation Couche-Tard Inc. (ATD.B.TO) and Empire Company (EMP.A.TO) rose sharply.

In the consumer discretionary section, Hudsons Bay Company (HBC.TO) jumped more than 6%. Dollarama (DOL.TO) and Aritzia Inc. (ATZ.TO) gained 1.6% and 1.4%, respectively.

Information technology stock Quarterhill Inc. (QTRH.TO) gained more than 2%. Constellation Software (CSU.TO) ended 1.4% up.

The major U.S. averaged ended on the positive side despite closing off the day's highs. The Dow and S&P 500 both edged up by 0.1%, while the Nasdaq closed 0.7% up.

Stocks moved higher on optimism the Fed will signal a near-term interest rate cut when announcing its monetary policy decision on Wednesday.

The major European markets ended mixed. Markets across the Asia-Pacific region also turned in a mixed performance on Monday.

In commodities, West Texas Intermediate Crude oil futures for July ended down $0.58, or 1.1%, at $51.93 a barrel.

Gold futures for August ended down $1.60, or 0.1%, at $1,342.90 an ounce.

Silver futures for July ended up $0.026, at $14.829 an ounce, while Copper futures for July settled at $2.6465 per pound, gaining $0.0170.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Январь 2022    »
ПнВтСрЧтПтСбВс
 12
3456789
10111213141516
17181920212223
24252627282930
31