TSX Ends On Firm Note

(RTTNews) - Despite giving up a substantial portion of its early gains, the Canadian market ended on a fairly firm note on Tuesday, thanks largely to sustained buying at several counters in materials and energy sectors.

Several stocks from consumer staples, technology and communications sections too posted notable gains. Healthcare stocks closed weak due to profit taking.

The mood turned somewhat cautious during the latter part of the session as investors looked ahead to the Federal Reserve's rate decision, due on Wednesday.

The benchmark S&P/TSX Composite Index, which climbed to 19,698.33 in early trades, ended the session with a gain of 91.57 points or 0.47% at 19,517.71.

Hudbay Minerals (HBM.TO) and Capstone Copper (CS.TO) climbed 12% and 11.4%, respectively, on huge volumes. First Quantum Minerals (FM.TO) gained nearly 9% and Lundin Mining Corporation (LUN.TO) surged 7.5%.

Athabasca Oil Corporation (ATH.TO), Air Canada (AC.TO), Shaw Communications (SJR.B.TO), Suncor Energy (SU.TO), Baytex Energy (BTE.TO), Tamarack Valley Energy (TVE.TO) and Cenovus Energy (CVE.TO) gained 1.4 to 3%.

Precision Drilling Corporation (PD.TO), Methanex Corporation (MX.TO), Turquoise Hill Resources (TRQ.TO), ATS Automation Tooling Systems Inc (ATA.TO) and Agnico Eagle Mines (AEM.TO) gained 4 to 6%.

Colliers International Group Inc (CIGI.TO) shares ended 3.7% down. The company reported adjusted EBITDA of $145.1 million for the quarter ended September 30, 2022, compared with adjusted EBITDA of $123.6 million a year ago.

Thomson Reuters Inc (TRI.TO) shed 3.1%. The company reported adjusted EPS of $0.57 in the third quarter of the current financial year, compared to adjusted EPS of $0.46 in the year-ago quarter. The stock is down by about 3.1%.

CCL Industries (CCL.A.TO) and WSP Global (WSP.TO) closed lower by 1.9% and 1.8%, respectively.

On the economic front, data from Markit Economics showed the S&P Global Canada Manufacturing PMI fell to 48.8 in October of 2022, down from 49.8 in September. That was the third straight month of contraction in Canada's manufacturing activity.