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TSX Ends On Firm Note As Technology, Financials Shares Rally
(RTTNews) - The Canadian market ended on a firm note on Monday, led by gains in technology and financials sectors.
Despite concerns about the ongoing war in the Middle East, the mood remained a bit positive with investors looking ahead to key earnings updates from some top U.S. companies.
The benchmark S&P/TSX Composite Index ended with a gain of 157.94 points or 0.81% at 19,620.80.
Technology stocks BlackBerry (BB.TO), Celestica Inc (CLS.TO), Tecsys Inc (TCS.TO), Shopify Inc (SHOP.TO), Lightspeed Commerce (LSPD.TO) and Enghouse Systems (ENGH.TO) rallied sharply, gaining 2.3 to 6.5%.
In the financials sector, Nuvei Corp (NVEI.TO), Goeasy (GSY.TO), EQB Inc (EQB.TO), Laurentian Bank (LB.TO), Canadian Imperial Bank of Commerce (CM.TO), Bank of Montreal (BMO.TO), Royal Bank of Canada (RY.TO), Bank of Nova Scotia (BNS.TO) and National Bank of Canada (NA.TO) gained 1 to 3%.
Healthcare stocks Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) gained 3.2% and 1.1%, respectively.
On the economic front, data from Statistics Canada showed manufacturing sales in Canada increased 0.7% month-over-month in August, below the preliminary estimate of a 1% gains. Manufacturing sales had increased by 1.6% in July.
Meanwhile, wholesale sales in Canada rose by 2.3% month-over-month to C$ 83 billion in August, from a downwardly revised flat reading in the previous month.
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