TSX Ends On Firm Note

RTTNews | 737天前

(RTTNews) - The Canadian market ended on a firm note on Friday, lifted by strong gains in energy, technology and materials shares.

A few stocks from healthcare and industrials sectors also posted notable gains.

The mood remained positive amid easing fears of a U.S. recession this year, and on hopes the Fed tightening cycle will end soon.

The benchmark S&P/TSX Composite Index ended with a gain of 133.90 points or 0.66% at 20,519.37. The index posted a marginal 0.1% decline for the week.

Data from Statistics Canada showed the Canadian economy grew 0.3% in May. Meanwhile, preliminary estimates show the economy may have contracted by 0.2% in June.

Healthcare stocks Tilray Inc (TLRY.TO), Bausch Health Companies (BHC.TO) and Chartwell Retirement (CSH.UN.TO) gained 7.1%, 2.5% and 1.7%, respectively.

In the technology sector, Celestica Inc (CLS.TO) soared 15.15% after reporting adjusted net earnings per share of $0.55 for the second quarter, compared to $0.44 in the year-ago quarte. The company also raised its earnings guidance for the year.

Shopify Inc (SHOP.TO), Blackberry (BB.TO), Coveo Solutions (CVO.TO), Lightspeed Commerce (LSPD.TO), Open Text Corporation (OTEX.TO) and Constellation Software (CSU.TO) gained 1.3 to 3.3%.

Among energy stocks, Baytex Energy (BTE.TO) gained more than 9% on strong second-quarter earnings.

Paramount Resources (POU.TO), Secure Energy (SES.TO), Nuvista Energy (NVA.TO) and Precision Drilling Corp (PD.TO) gained 4.3 to 5.7%.

Osisko Mining Inc (OSK.TO), up nearly 7.5%, was the top gainer in the Materials index. Methanex (MX.TO), Equinox Gold Corp (EQX.TO), Silvercrest Metals (SIL.TO), Teck Resources (TECK.B.TO), Wesdome Gold Mines (WDO.TO) and Alamos Gold (AGI.TO) gained 3 to 4.5%.

In the industrials secctor, Toromont Industries (TIH.TO), Ballard Power Systems (BLDP.TO), Finning International (FTT.TO), Bombardier Inc (BBD.B.TO), Canadian National Railway (CNR.TO), Air Canada (AC.TO) and Tfi International (TFII.TO) posted strong gains.

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