TSX Snaps 4-day Losing Streak, Ends On Firm Note

(RTTNews) - The Canadian market ended on a firm note on Monday, led by gains in technology, healthcare, materials and financials shares.

Energy stocks fell as oil prices dropped on concerns about the outlook for energy demand.

With a slew of key economic data from the U.S., Europe and China due this week, the mood remained a bit cautious.

The benchmark S&P/TSX Composite Index ended with a gain of 108.11 points or 0.54% at 20,182.76, snapping a four-day losing streak. The index scaled a low of 20,096.94 and a high of 20,222.90 intraday.

Healthcare stock Tilray Inc (TLRY.TO) soared more than 9%. Technology stock BlackBerry (BB.TO) zoomed 14%. Dye & Durham (DND.TO) climbed 8.4% and Alithya Group (ALYA.TO) gained 5.2%.

Celestica Inc (CLS.TO), Softchoice Corp (SFTC.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO), Kinaxis Inc (KXS.TO), Constellation Software (CSU.TO) and Enghouse Systems (ENGH.TO) gainedd 1 to 2.6%.

Among materials shares, Lithium Americas Corp (LAC.TO) surged 7%. First Quantum Minerals (FM.TO), Teck Resources (TECK.B.TO), Eldorado Gold (ELD.TO), MAG Silver Corp (MAG.TO), B2Gold Corp (BTO.TO), Ero Copper (ERO.TO) and Lundin Mining Corp (LUN.TO) gained 2 to 4%.

Onex Corp (ONEX.TO), Toronto-Dominion Bank (TD.TO), Sun Life Financial (SLF.TO), Manulife Financial (MFC.TO), Canadian Imperial Bank of Commerce (CM.TO) and Bank of Montreal (BMO.TO) gained 1 to 2%.

Crescent Point Energy Corp. (CPG.TO) shares ended 2.2% down. The company announced that it expects annual production of 145,000 to 151,000 barrels of oil equivalent per day or boe/d in 2024. The firm said that this production forecast is based on development capital expenditure of $1.05 billion to $1.15 billion.

The energy company added that it aims production of around 180,000 boe/d by 2028, which equates to a compounded annual growth rate of 5%.

Vermilion Energy (VET.TO) announced today that it has restarted its operations in Australia after completing inspection and repair work at its Wandoo facility. The stock ended modestly higher.

Canadian Natural Resources (CNQ.TO), Parex Resources (PXT.TO), Suncor Energy (SU.TO), Enerplus Corp (ERF.TO), Precision Drilling Corp (PD.TO) and Cenovus Energy (CVE.TO) ended lower by 2 to 3%.