Canadian Market Ends Marginally Up After Lackluster Session
(RTTNews) - The Canadian market ended slightly higher on Monday, thanks to gains in select healthcare, energy, materials and utilities stocks. Stocks moved in a tight band in somewhat lackluster moves by investors who stayed cautious, looking ahead to Fed policy announcement, and some crucial economic data, due later in the week.
The benchmark S&P/TSX Composite Index ended with a gain of 42.38 points or 0.19% at 22,011.62, after moving between 21,903.05 and 22,052.06.
Healthcare stocks Bausch Health Companies (BHC.TO) and Sienna Senior Living Inc (SIA.TO) gained 1.75% and 1.3%, respectively. Chartwell Retirement Residences (CSH.UN.TO) advanced nearly 1%.
Energy stocks Peyto Exploration & Development Corp (PEY.TO), Tourmaline Oil Corp (TOU.TO), Africa Oil Corp (AOI.TO), Crescent Point Energy (CPG.TO), Topaz Energy (TPZ.TO), Birchcliff Energy (BIR.TO), Pason Systems (PSI.TO), Secure Energy Services (SES.TO) and Precision Drilling Corporation (PD.TO) gained 1.3 to 2.5%.
Methanex Corp (MX.TO), up 4.5%, was the top gainer in the Materials Index. Novagold (NG.TO) gained about 4.25%. Nutrien (NTR.TO), Torex Gold Resources (TXG.TO), Equinox Gold Corp (EQX.TO) and Ero Copper (ERO.TO) climbed 2 to 3%.
Algonquin Power & Utilities Corp (AQN.TO) and Fortis (FTS.TO), both gained about 1.3%. Canadian Utilities (CU.TO), Emera Incorporated (EMA.TO), Hydro One (H.TO) and AltaGas (ALA.TO) ended higher by 0.8 to 1%.
Cargojet Inc (CJT.TO) gained 3.75%. The company reported first-quarter adjusted earnings of $31 million, or $1.86 per share, compared to $16.8 million, or $0.97 per share, in the year-ago quarter.
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