TSX Ends Marginally Up

(RTTNews) - After holding firmly in positive territory till around mid afternoon on Friday, the Canadian market suffered a setback and moved along the flat line subsequently before settling marginally up.

Concerns about inflation and worries about rising tensions between Russia and Ukraine rendered the mood cautious during the later part of the day's session.

Higher crude oil and gold prices triggered hectic buying in energy and materials sections. Consumer discretionary, technology and industrials shares declined sharply.

The benchmark S&P/TSX Composite Index, which climbed to 21,670.27, dropped to a low of 21,427.58 before closing with a gain of 17.12 points or 0.08% at 21,548.84.

Precision Drilling Corporation (PD.TO) soared nearly 11.5%. Vermilion Energy (VET.TO) gained about 8.4%, Barrick Gold Corporation (ABX.TO) climbed 7.3% and Pan American Silver Corp (PAAS.TO) advanced 6.2%.

Agnico Eagle Mines (AEM.TO), Newmont Corporation (NGT.TO), Franco-Nevada Corporation (FNV.TO), Wheaton Precious Metals (WPM.TO), Suncor Energy (SU.TO), Imperial Oil (IMO.TO) and Canadian Natural Resources (CNQ.TO) gained 3 to 6%. West Fraser Timber (WFG.To) ended nearly 2% up.

Lightspeed Commerce Inc (LSPD.TO) declined more than 7%. Magna International (MG.TO) shed 6.4% on weak earnings. The company reported fourth-quarter net income of $464 million, down from last year's $738 million. Earnings per share were $1.54, compared to $2.45 a year ago. Adjusted earnings per share were $1.30, compared to $2.83 last year.

WSP Global (WSP.TO), Shopify Inc (SHOP.TO), Nuvei Corporation (NVEI.TO), FirstService Corporation (FSV.TO), CGI Inc (GIB.A.TO) and Constellation Software (CSU.TO) ended lower by 2 to 5%.