TSX Ends Modestly Higher; Technology Stocks Rally

RTTNews | 1071 days ago
TSX Ends Modestly Higher; Technology Stocks Rally

(RTTNews) - The Canadian market closed higher on Wednesday, led by gains in technology, healthcare and financials sectors.

Buoyant U.S. services sector data aided sentiment, while weak crude oil prices weighed on energy stocks and limited market's upside. Materials shares were weak as well.

The benchmark S&P/TSX Composite Index ended with a gain of 40.61 points or 0.21% at 19,545.94, after scaling a low of 19,485.03 and a high of 19,616.12 intraday.

The Information Technology Capped Index surged 4.56%. Shopify Inc (SHOP.TO) soared 10.8%. Hut 8 Mining Corp (HUT.TO), Kinaxis Inc (KXS.TO) and Sierra Wireless (SW.TO) gained 9 to 10%. Lightspeed Commerce (LSPD.TO), Nuvei Corp (NVEI.TO), Magnet Forensics (MAGT.TO), Celestica Inc (CLS.TO) and Absolute Software Corp (ABST.TO) also posted strong gains.

In the healthcare section, Bausch Health Companies (BHC.TO) zoomed nearly 13.5%. Cronos Group (CRON.TO) climbed 3.3% and Canopy Growth Corp (WEED.TO) gained 1.63%.

Among financials shares, Goeasy (GSY.TO) rallied 4.7%, CDN Western Bank (CWB.TO), Royal Bank of Canada (RY.TO), Fairfax Financial Holdings (FFH.TO), Toronto-Dominion Bank (TD.TO), Bank of Montreal (BMO.TO) and Sun Life Financial (SLF.TO) gained 1 to 2%.

The Energy Capped Index shed 4.27%. Paramount Resources (POU.TO), MEG Energy (MEG.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Vermilion Energy (VET.TO), Cenovus Energy (CVE.TO) and Enerplus Corp (ERF.TO) lost 5.9 to 9%.

Materials shares Ero Copper (ERO.TO), K92 Mining (KNT.TO), Ssr Mining (SSRM.TO), Torex Gold Resources (TXG.TO), First Quantum Minerals (FM.TO), Wheaton Precious Metals (WPM.TO), Kinross Gold (K.TO) and First Majestic Silver Corp (FR.TO) declined sharply.

read more
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 50 minutes ago
European Shares Extend Gains On Trade Deal Optimism

European Shares Extend Gains On Trade Deal Optimism

European stocks rose for a fourth consecutive session on Thursday as optimism prevailed about a potential trade deal between the U.S. and the European Union. EU trade chief Maros Sefcovic said there was good progress on a framework trade agreement and a deal may even be possible within days.
RTTNews | 1h 23min ago
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 3h 56min ago