TSX Ends Slightly Up After Lackluster Session
(RTTNews) - The Canadian market ended slightly up on Thursday after a lackluster session.
Despite hawkish remarks from the Federal Reserve on Wednesday, the latest data on jobless claims in the U.S. has raised optimism that the central bank will not follow through.
The benchmark S&P/TSX Composite Index ended with a small gain of 12.26 points or 0.06% at 20,027.35. The index touched a low of 19,952.24 and a high of 20,057.37.
First Quantum Minerals (FM.TO) surged more than 7.5%. Tecsys Inc (TCS.TO) and Precision Drilling Corp (PD.TO) climbed 4.8% and 4%, respectively.
Tourmaline Oil Corp (TOU.TO), Precision Drilling Corp (PD.TO), Advantage Oil & Gas (AAV.TO), Vermilion Energy (VET.TO), Birchcliff Energy (BIR.TO), Parex Resources (PXT.TO) and Paramount Resources (POU.TO) gained 2 to 4%.
Enghouse Systems (ENGH.TO) ended more than 4% down. North West Company Inc (NWC.TO), Colliers International (CIGI.TO), West Fraser Timber (WFG.TO), Cargojet Inc (CJT.TO) and FirstService Corporation (FSV.TO) closed lower by 1.2 to 3%.
In economic news, data from the Canada Mortgage and Housing Corporation showed housing starts in Canada fell by 23% over a month earlier to 202,494 units in May of 2023.
Data from Statistics Canada showed manufacturing sales rose by 0.3% month-over-month in April, slightly above preliminary estimates of 0.2% and following an upwardly revised 0.8% increase in March.
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