TSX Ends Modestly Higher After Cautious Session
(RTTNews) - Canadian stocks moved in a very tight range after opening slightly up Monday morning, and ended the day's session modestly higher, led by gains in energy and healthcare sections.
News about U.S. President Joe Biden and Congressional Republican McCarthy agreeing on a debt ceiling deal on Saturday to avert a fast-approaching default in early June aided sentiment.
However, worries about inflation and prospects of further interest rate hikes limited market's upside.
The benchmark S&P/TSX Composite Index ended with a gain of 47.64 points or 0.24% at 19,967.95. The index touched a low of 19,929.01 and a high of 19,991.89.
Energy stocks Athabasca Oi Corp (ATH.TO) and Headwater Exploration (HWX.TO) both gained more than 2%. Crescent Point Energy (CPG.TO), Paramount Resources (POU.TO), Topaz Energy (TPZ.TO), Suncor Energy (SU.TO) and Vermilion Energy (VET.TO) gained 1 to 1.8%.
Healthcare stocks Canopy Growth Corp (WEED.TO) and Bausch Health Companies (BHC.TO) gained 2.5% and 1.45%, respectively. Tilray Inc (TLRY.TO) advanced 0.8%.
In the financials section, CDN Western Bank (CWB.TO) surged 5.52%. Onex Corp (ONEX.TO) climbed nearly 2%, Laurentian Bank (LB.TO) gained 1.6% and Toronto-Dominion Bank (TD.TO) ended higher by 1.1%.
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