TSX Ends On Firm Note

(RTTNews) - The Canadian market closed on a firm note on Monday, riding on gains in energy, materials and technology stocks. Several stocks from financials and real estate sectors moved up as well.

Higher commodity prices lifted energy and materials shares.

The benchmark S&P/TSX Composite Index ended with a gain of 120.35 points or 0.59% at 20,539.97, near the day's high.

In the energy sector, Spartan Delta Corp (SDE.TO) ended nearly 9% up. Tourmaline Oil Corp (TOU.TO), Tamarack Valley Energy (TVE.TO), Athabasca Oil Corp (ATH.TO), Prairiesky Royalty (PSK.TO), Parex Resources (PXT.TO) and Advantage Oil & Gas (AAV.TO) gained 2 to 4%.

Materials shares Hudbay Minerals (HBM.TO), Ero Copper (ERO.TO), Filo Mining Corp (FIL.TO), Torex Gold Resources (TXG.TO) and Lundin Gold (LUG.TO) gained 4 to 6%.

First Quantum Minerals (FM.TO), Capstone Mining Corp (CS.TO), Nutrien (NTR.TO), Ivanhoe Mines (IVN.TO) and Teck Resources (TECK.B.TO) also moved up sharply.

Centerra Gold Inc. (CG.TO) plunged more than 18% after the company reported adjusted net loss of $52.9 million, or $0.24 per common share for the first quarter of 2023, compared to $56.4 million, or $0.19 per share, in the first quarter of 2023.

Technology stocks Bitfarms (BITF.TO) and Docebo Inc (DCBO.TO) soared 10.6% and 7.1%, respectively. Hut 8 Mining Corp (HUT.TO) surged 6.4% and Constellation Software (CSU.TO) climbed nearly 4%. BlackBerry (BB.TO), Converge Technology Solutions (CTS.TO), Kinaxis Inc (KXS.TO) and Alithya Corp (ALYA.TO) gained 1.2 to 2.1%.

In the financials section, Goeasy (GSY.TO), Sun Life Financial (SLF.TO), Fairfax Financial Holdings (FFH.TO), Manulife Financial (MFC.TO), CDN Western Bank (CWB.TO), National Bank of Canada (NA.TO) and Canadian Imperial Bank of Commerce (CM.TO) gained 1 to 2.3%.

On the economic front, data from the Canada Mortgage and Housing Corporation showed housing starts in Canada rose by 22% over a month earlier to 261,600 units in April of 2023.

Data from Statistics Canada showed wholesale sales in Canada eased by 0.1% month-over-month to C$ 86.5 billion in March 2023, extending the 1.7% decline in the previous month.