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TSX Rises For 4th Straight Day, Ends Notably Higher
(RTTNews) - The Canadian market ended on a bright note on Wednesday, extending gains to a fourth straight session, as stocks from several sectors surged higher on sustained buying support.
Technology, financials, consumer discretionary and energy stocks were among the major gainers. Several stocks from consumer staples, healthcare, real estate and utilities sectors too posted impressive gains.
The mood was positive as worries about banking crisis eased further after top U.S. regulators expressed confidence that banks were solvent, blaming the recent collapse of Silicon Valley Bank on mismanagement, rather than systemic risks.
The benchmark S&P/TSX Composite Index ended with a gain of 180.12 points or 0.92% at 19,837.65, almost near the day's high.
Hut 8 Mining Corp (HUT.TO) soared 8.7% on strong volumes. Shopify Inc (SHOP.TO) surged 5% and Lundin Mining (LUN.TO) climbed 4.5% and Crescent Point Energy (CPG.TO) rallied 4%.
Enbridge Inc (ENB.TO), TC Energy Corporation (TRP.TO), Athabasca Oil Corporation (ATH.TO), Kinross Gold Corporation (K.TO), Baytex Energy (BTE.TO), Cenovus Energy (CVE.TO) and Capstone Copper Corp (CS.TO) gained 1.9 to 2.7%.
Dollarama Inc (DOL.TO) gained 2.5% on strong results. Dollarama reported fourth-quarter diluted net earnings of $0.91 per share, up 23% from a year ago. Diluted net earnings rose 26.6% to $2.76 in fiscal 2023 from the previous year, the company said.
Bank of Nova Scotia (BNS.TO), Suncor Energy (SU.TO), Canadian Imperial Bank of Commerce (CM.TO) and Canadian Natural Resources (CNQ.TO) also ended notably higher.
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