TSX Rises Past 25k Mark, Ends 1.5% Up

RTTNews | Před 159 dny
TSX Rises Past 25k Mark, Ends 1.5% Up

(RTTNews) - The Canadian market ended on a buoyant note on Wednesday with its benchmark S&P/TSX Composite Index climbing past 25,000 mark thanks to strong gains in technology, consumer staples, energy and financials sectors.

Investors continued to assess the impact of Trump's tariffs, and digested the Federal Reserve's policy announcement. The U.S. central bank announced its widely expected decision to once again leave interest rates unchanged, but projections signaled the central bank is still likely to lower rates later this year.

The S&P/TSX Composite Index closed up 363.14 points or 1.47% at 25,069.21, nearly 50 points off the day's high of 25,115.52.

Technology stocks gained, tracking the rally by U.S. tech stocks. The Information Technology Capped Index climbed 3.19%. The Consumer Staples Index surged 2.79%, the Energy Capped Index gained nearly 2%, and the Financials Index jumped 1.22%.

Shopify climbed nearly 8.5% after it announced it will change its US listing to the Nasdaq from the NYSE.

Alimentation Couche-Tard gained nearly 6.5% on strong quarterly earnings. First Quantum Minerals also gained 6.5%. Birchcliff Energy closed 6.25% up.

Celestica, Corus Entertainment, Advantage Oil & Gas, AtkinsRealis, Baytex Energy, Computer Modelling, Interfor, Brookfield, Novagold Resources, Bombardier, Jamieson Wellness, Cineplex, Real Maters, Canfor, Brookfield Infrastructure Partners and Whitecap Resources gained 3 to 5.4%.

Tilray, MAG Silver and Boyd Services lost 4.2 to 5.3%. Boyd Group shares shed ground as the company reported net earnings of US$ 2.4 million of US$ 0.11 per share for the three months ended December 31, 2024, compared with US $19.1 million or US $0.89 per share a year earlier.

Quebecor, Linamar, Canopy Growth Corporation, BCE Inc., Silvercorp Metals, Magna International, Cronos Group and Emera Inc closed lower by 1 to 2.2%.

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