TSX Closes Modestly Higher

(RTTNews) - The Canadian market closed modestly higher on Tuesday, supported by gains in materials, healthcare and consumer staples sectors. A few stocks from consumer discretionary and energy sectors too posted strong gains.

The benchmark S&P/TSX Composite Index, which climbed more than 100 points to 25,693.68 at the start but dropped to 25,578.72 soon thereafter, ended the day's session at 25,635.73 with a gain of 45.40 points or 0.18%.

Silvercrest Metals (SIL.TO) jumped 7.7%. Torex Gold Resources (TXG.TO) and Pan American Silver Corp (PAAS.TO) climbed 6.3% and 6.2%, respectively.

Celestica (CLS.TO), Alamos Gold (AGI.TO), Propel Holdings (PRL.TO), Agnico Eagle Mines (AEM.TO), MDA Space (MDA.TO), Bombardier Inc (BBD.B.TO), Premium Brands Holdings (PBH.TO), Jamieson Wellness (JWEL.TO) and North West Company (NWC.TO) closed higher by 3 to 5.4%.

Finning International (FTT.TO), Wheaton Precious Metals (WPM.TO), Ag Growth International (AFN.TO), Cogeco Inc (CGO.TO), Cogeco Communications (CCA.TO), Nutrien (NTR.TO), Docebo Inc (DCBO.TO), ATCO (ACO.X.TO), Canadian Natural Resources (CNQ.TO), Restaurant Brands International (QSR.TO), George Weston (WN.TO) and Loblaw (L.TO) also closed with strong gains.

Enbridge, Inc. (ENB.TO) closed modestly higher. The company said today that its expects distributable cash flow or DCF to be in the range of $5.50 to $5.90 per share in fiscal 2025. The company also reaffirmed its 2023 to 2026 growth of 4 to 6% for adjusted earnings per share, approximately 3% for DCF per share, and 7 to 9% for EBITDA.

Despite reporting a sharp jump in quarterly earnings, Bank of Nova Scotia (BNS.TO) closed 3.3% down, as the numbers fell short of expectations. The bank reported a net income of $1,689 million for the fourth quarter ended October 31, 2024, compared to $1,354 million in the fourth quarter last year.

Great-West Lifeco (GWO.TO) closed lower by 3.4%. Hut 8 Corp (HUT.TO), Constellation Software (CSU.TO), Aecon Group (ARE.TO), Capital Power Corporation (CPX.TO), EQB Inc (EQB.TO) and Methanex Corporation (MX.TO) also declined sharply.