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TSX Rises 1.8% On All-round Buying
(RTTNews) - The Canadian market ended on a buoyant note on Friday on all-round buying, amid easing worries about a U.S. debt default, and data showing stronger-than-expected growth in U.S. non-farm payroll in the month of May.
Higher crude oil prices triggered another round of strong buying in energy stocks. Consumer discretionary, industrials, real estate and financials shares were among the other big gainers. The indices tracking the performances of stocks from these sectors, surged 2.1 to 2.83%.
Shares from utilities, consumer staples, technology and healthcare sections also posted notable gains. Materials and communications shares were somewhat subdued.
The benchmark S&P/TSX Composite Index ended with a gain of 352.38 points or 1.79% at 20,024.63, slightly off the day's high of 20,032.11. The index shed about 1.6% in the week, recording its sixth straight weekly loss.
Teck Resources (TECK.B.TO), Methanex Corporation (MX.TO), Tourmaline Oil Corporation (TOU.TO) and Magna International (MG.TO) surged 4.8 to 5.7%.
WSP Global (WSP.TO), Colliers International (CIGI.TO), National Bank of Canada (NA.TO), BRP Inc (DOO.TO), Canadian Pacific Kansas City (CP.TO), Bank of Montreal (BMO.TO), Canadian Tire Corporation (CTC.A.TO), TFI International (TFII.TO) and Canadian National Railway (CNR.TO) climbed 2 to 4%.
Rogers Communications (RCI.A.TO), Lundin Gold (LUG.TO) and Torex Gold Resources (TXG.TO) 3 to 4%. Wheaton Precious Metals (WPM.TO), Nuvei Corporation (NVEI.TO) and Franco-Nevada Corporation (FNV.TO) also ended notably lower.
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