Canadian Stocks Rising Again; TSX Surges Past 20k Mark
(RTTNews) - After opening marginally up, the Canadian market gained in strength on Friday with stocks from consumer discretionary, technology, energy and industrials sectors rallying sharply on strong buying support.
Data showing an expansion in Canadian economic activity in the month of February is aiding sentiment. The Canadian economic activity likely increased by 0.3% over a month earlier in February 2023, preliminary estimates showed.
In January, the GDP increased by 0.5%, following a slight 0.1% contraction in December.
The benchmark S&P/TSX Composite Index, which surged to 20,126.54, is up 150.85 points or 0.77% at $20,091.84 about half an hour past noon.
Bombardier Inc (BBD.B.TO), Ag Growth International (AFN.TO), Cargojet (CJT.TO), Restaurant Brands International (QSR.TO), Magna International (MG.TO), Descartest Systems Group (DSG.TO), BRP Inc (DOO.TO) and Boyd Group Services (BYD.TO) are gaining 2 to 3.5%.
Constellation Software (CSU.TO), FirstService Corporation (FSV.TO), Toromont Industries (TIH.TO), Kinaxis Inc (KXS.TO), George Weston (WN.TO), Canadian National Railway (CNR.TO), Waste Connections (WCN.TO) and Canadian Tire Corporation (CTC.A.TO) are also notably higher.
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