Canadian Market Looks Set To End On Firm Note
(RTTNews) - The Canadian market is up firmly in positive territory Friday afternoon and looks set to end the day's session on a bright note, as stocks from several sectors are back in demand after recent losses.
Energy, financials, technology, materials and consumer staples stocks are finding good support.
The benchmark S&P/TSX Composite Index is up 110.36 points or 0.5% at 22,311.15.
Celestica Inc (CLS.TO) is climbing 5.3%. Bombardier Inc (BBD.B.TO) and Gildan Activewear (GIL.TO) are gaining 4.3% and 4.1%, respectively.
Toronto-Dominion Bank (TD.TO), Constellation Software (CSU.TO), goeasy (GSY.TO), Stantec (STN.TO), Precision Drilling Corporation (PD.TO) and Boyd Group Services (BYD.TO) are up 1.5 to 2.3%.
Dayforce (DAY.TO) is plunging more than 8%. Filo Corp (FIL.TO) is down 2.5%. Calian Group (CGY.TO), Open Text Corporation (OTEX.TO), Shopify Inc (SHOP.TO) and BCE Inc (BCE.TO) are also notably lower.
On the economic front, data from Statistics Canada showed retail sales in Canada decreased 0.2% in March over the previous month. Retail sales in Canada rose by 1.9% from the corresponding period of the previous year in March, up from the downwardly revised 1% increase in the earlier month.
A separate data from Statistics Canada showed manufacturing Sales in Canada increased to 1.2% in April from -2.1% in March of 2024.
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