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TSX Ends On Strong Note Again
(RTTNews) - The Canadian market ended on a strong note on Monday, extending gains to a second straight session, after having hit a new 52-week low last Thursday.
Energy and materials shares led the market up north. Several stocks from utilities, consumer discretionary and financial sectors too closed with impressive gains. Technology stocks closed on a weak note.
The benchmark S&P/TSX Composite Index ended with a gain of 195.41 points or 1.03% at 19,258.32.
The Energy Capped Index climbed 4.72% as stocks rose on firm crude oil prices. Vermilion Energy (VET.TO) soared 11.7%. Arc Resources (ARX.TO), Advantage Oil & Gas (AAV.TO), Tourmaline Oil Corp (TOU.TO), Crescent Point Energy (CPG.TO), Enerplus Corp (ERF.TO), Nuvista Energy (NVA.TO) and Paramount Resources (POU.TO) climbed 6 to 7%.
The Materials Capped Index surged 2.03%. Hudbay Minerals (HBM.TO), Ivanhoe Mines (IVN.TO), Capstone Mining (CS.TO), New Gold (NGD.TO), Oceanagold Corp (OGC.TO) and Nutrien (NTR.TO) gained 4 to 7%.
Technology stocks Hut 8 Mining (HUT.TO), Descartes Systems Group (DSG.TO), Docebo Inc (DCBO.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO) and Kinaxis (KXS.TO) declined sharply.
Dye & Durham Ltd. (DND.TO) shares declined nearly 2%. The company announced Monday it has made a revised proposal to the board of directors at Link Administration Holdings Ltd. (LNK.AX) with respect to Dye & Durham's offer to acquire Link Group.
In a letter to Link Group's board, Dye & Durham has reduced its purchase offer price to A$4.30 per Link Group share from A$5.50 per share offered by Dye & Durham in December 2021.
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