TSX Ends Modestly Higher; Materials Stocks Shine

(RTTNews) - Despite concerns about the outlook for Fed interest rates, the Canadian market ended on a positive note on Thursday, thanks largely to some sustained buying at several counters in the materials and utilities sectors.

Shares from the rest of the sectors turned in a mixed performance as investors stayed largely cautious amid a lack of prominent triggers.

The benchmark S&P/TSX Composite Index ended with a gain of 52.39 points or 0.24% at 21,708.44, after scaling a low of 21,601.59 and a high of 21,799.35 intraday.

Materials shares gained on firm bullion prices. The Materials Capped Index climbed 1.24%. First Quantum Minerals (FM.TO), up nearly 9%, was the top gainer in the Index.

Silvercrest Metals (SIL.TO) rallied about 6%. Hudbay Minerals (HBM.TO), Lundin Gold (LUG.TO), Filo Mining Corp (FIL.TO), Lundin Mining Corp (LUN.TO) and Osisko Mining Inc (OSK.TO) gained 2.3 to 3.6%. Wesdome Gold Mines (WDO.TO), Ero Copper (ERO.TO), Orla Mining (OLA.TO), Nutrien (NTR.TO), Barrick Gold Corp (ABX.TO) and Agnico Eagle Mines (AEM.TO) ended higher by 1.5 to 2%.

Utilities shares Transalta Corp (TA.TO) and Brookfield Infra Partners (BP.UN.TO) climbed about 3.3% and 3%, respectively. Innergex Renewable Energy (INE.TO), Boralex (BLX.TO), Atco Ltd (ACO.X.TO) and Brookfield Renewable Partners (BEP.UN.TO) gained 1.5 to 3%.

Canopy Growth Corporation (WEED.TO) soared more than 21%. Aurora Cannabis (ACB.TO) climbed 12%. Rogers Communications (RCI.A.TO), Morguard Corporation (MRU.TO), Fairfax Financial Holdings (FFH.TO) and Premium Brands Holdings Corporation (PBH.TO) also ended on bright note.

Lithium Americas Corp (LAC.TO) tanked 30%. The company said on Wednesday that it would raise US$275 million by selling 55 million common shares at US$5 apiece in an underwritten public offering expected to close on April 22. The company plans to use the proceeds to advance the construction and development of its Thacker Pass lithium project in Humboldt County, Nevada.

Aritzia Inc (ATZ.TO), BRP Inc (DOO.TO), Colliers International (CIGI.TO), TFI International (TFII.TO), Celestica Inc (CLS.TO), Tourmaline Oil Corp (TOU.TO), Cargojet (CJT.TO), Thomson Reuters (TRI.TO), Precision Drilling Corporation (PD.TO) and goeasy (GSY.TO) lost 1 to 3.3%.