26.03.2021 21:42:46

TSX Ends On Firm Note As Market Sees Another Final Hour Rally

(RTTNews) - After staying quite sluggish and moving largely around the flat line till well past noon, the Canadian market saw some brisk buying in late afternoon trades on Friday to eventually settle on a positive note.

Energy and materials shares moved up sharply thanks to higher commodity prices and contributed significantly to market's rise. A few top stocks from industrials, consumer discretionary and utilities sectors also posted strong gains, while telecom and healthcare stocks drifted lower.

Despite recent encouraging economic data from the world's largest economy, uncertainty about the pace of global economic recovery amid spikes in coronavirus cases and extension of lockdown measures in several parts of Europe rendered the mood a bit cautious.

The benchmark S&P/TSX Composite Index ended with a gain of 101.48 points or 0.54% at 18,752.58, slightly off the session's high of 18,758.57. The index shed about 0.5% in the week.

The Capped Energy Index surged up nearly 2%. MEG Energy (MEG.TO), up 6.3%, was the top gainer. Seven Generations Energy (VII.To), Arc Resources (ARX.TO), Parex Resources (PXT.TO), Crescent Point Energy (CPG.TO), Enerplus Corp (ERF.TO), Whitecap Resources (WCP.TO) and Tourmaline Oil Corp (TOU.TO) gained 3 to 5%.

The Materials Index climbed 1.68%. Teck Resources (TECK.B.TO) rallied 5.6%, First Quantum Minerals (FM.TO) gained 4.85% and Labrador Iron Ore (LIF.TO) gained 4.2%. Lundin Mining (LUN.TO), Hudbay Minerals (HBM.TO), West Fraser Timber (WFG.TO), Interfor Corp (IFP.TO) and Torex Gold Resources (TXG.TO) ended higher by 3 to 4%.

Telecom stock Telus Corp (T.TO) declined 3.45%. Telus announced that it would raise C$1.3 billion ($1.03 billion) through an equity offering in order to boost investments in broadband connectivity and 5G. The stock is down nearly 4%.

Corus Entertainment (CJR.B.TO), Rogers Communications (RCI.B.TO), Quebecor (QBR.B.TO), Shaw Communications (SJR.B.TO) and Cogeco Communications (CCA.TO) lost 1 to 2.5%.

Among healthcare stocks, Aphria Inc (APHA.TO) and Cronos Group (CRON.TO) lost 3.45% and 3%, respectively. Aurora Cannabis (ACB.TO) ended 1.8% down and Canopy Growth Corporation (WEED.TO) lost 1.7%.

According to a report from Department of Finance, Canada's government posted a C$ 20 billion deficit in January, compared to a surplus of C$ 0.4 billion a year earlier.

Eintrag hinzufügen
Hinweis: Sie möchten dieses Wertpapier günstig handeln? Sparen Sie sich unnötige Gebühren! Bei finanzen.net Brokerage handeln Sie Ihre Wertpapiere für nur 5 Euro Orderprovision* pro Trade? Hier informieren!
Es ist ein Fehler aufgetreten!