TSX Ends Marginally Higher
(RTTNews) - The Canadian market ended marginally up on Wednesday after a somewhat lackluster session.
Despite easing concerns about U.S. interest rates after data showed a slowdown in private sector growth and a drop in second-quarter GDP growth, the mood in the Canadian market was a bit cautious with investors awaiting Canadian GDP data, due on Thursday.
Healthcare stocks moved higher. Technology and energy stocks found support, while communications and utilities stocks were weak. Materials, financials and consumer discretionary stocks closed mixed.
The benchmark S&P/TSX Composite Index ended with a gain of 39.91 points or 0.2% at 20,330.32, after scaling a low of 20,309.42 and a high of 20,403.36 intraday.
Tecsys Inc (TCS.TO) rallied 5.3%. Shopify Inc (SHOP.TO) gained 1.8%, Sprott Inc (SII.TO) climbed 1.65%, Constellation Software (CSU.TO) gained about 1.4%, and Bank of Montreal (BMO.TO) ended 1.2% up.
FirstService Corporation (FSV.TO), TFI International (TFII.TO), Boyd Group (BYD.TO) and Canadian Tire Corporation (CTC.TO) also closed notably higher.
National Bank of Canada (NA.TO) ended nearly 4% down. The bank reported third-quarter net income of $839 million, up 2% from $826 million in the third quarter of 2022. Third-quarter diluted earnings per share stood at $2.36 compared to $2.35 in the third quarter of 2022.
Aritzia Inc (ATZ.TO) shed about 4.2%. Quebecor (QBR.B.TO), Laurentian Bank (LB.TO), goeasy (GSY.TO), EQB Inc (EQB.TO) and BRP Inc (DOO.TO) ended lower by 1.5 to 3.2%.
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