TSX Settles Modestly Higher As Technology, Telecom Stocks Move Up

(RTTNews) - The Canadian market closed on a firm note on Thursday, supported by gains in communications, real estate and technology sectors amid slightly easing worries about global trade war after U.S. President Donald Trump refrained from imposing any reciprocal tariffs on foreign nations for now.

Investors largely tracked quarterly earnings news for direction.

The benchmark S&P/TSX Composite Index settled with a gain of 135.40 points or 0.53% at 25,698.51.

The Information Technology Capped Index climbed nearly 2%. Shopify Inc (SHOP.TO) rallied 5.2%. Docebo Inc (DCBO.TO), Descartes Systems (DSG.TO) and Constellation Software (CSU.TO) gained 1.7 to 2%. Bitfarms (BITF.TO) gained 2.6%.

Telecom stock Telus Corp (T.TO) gained about 3.75%. Telus reported fourth-quarter net income of $320 million, compared with net income of $310 million in the year-ago quarter.

Rogers Communications (RCI.B.TO) closed 1.2% up, while BCE Inc (BCE.TO), Cogeco Communications (CCA.TO) and Quebecor Inc (QBR.B.TO) posted moderate gains.

Real estate stocks Smartcentres Real Estate, Choice Properties, Riocan Real Estate, Crombie Real Estate Investment, Firstservice Corp and Primaris REIT gained 1.2 to 3%.

Molson Coors Canada (TPX.B.TO), Ero Copper (ERO.TO), First Quantum Minerals (FM.TO), WSP Global (WSP.TO), Brookfield Asset Management (BAM.TO) and BRP Inc (DOO.TO) were some of the other notable gainers in the session.

Calian Group (CGY.TO) tanked 9.5%. The company reported stronger-than-expected adjusted earnings of $10.5 million, or $0.88 per diluted share for the first quarter. However, the stock is tumbling 9%.

Sun Life Financial (SLF.TO) declined sharply after fourth-quarter results fell short of expectations.

Mullen Group (MTL.TO), Kinross Gold (K.TO), Coveo Solutions (CVO.TO), Dye & Durham (DND.TO), West Fraser Timber (WFG.TO) and Enerflex (EFX.TO) were among other notable losers.