TSX Ends On Firm Note

(RTTNews) - The Canadian stock market closed on a firm note on Tuesday, supported by gains in materials, energy, industrials and financials sectors.

Investors digested Canadian inflation data, and a few quarterly earnings updates. Higher commodity prices triggered some strong buying at several counters in energy and materials sectors.

The benchmark S&P/TSX Composite Index, which climbed to a high of 25,668.94 intraday, ended the day's session with a gain of 165.61 points or 0.65% at 25,648.84

BlackBerry climbed nearly 7%. Organigram Holdings gained 6.7% and Interfor Corp rallied 5.1%.

Canada Goose Holdings, Seabridge Gold, Equinox Gold, Parex Resources, Trican Well Service, Eldorado Gold, Bausch Health Companies, Aritzia, Bombardier Inc., and B2Gold Corp climbed 3 to 4.5%.

Imperial Oil, Baytex Energy, Birchcliff Energy, Brookfield Renewable, WSP Global, Barrick Gold Corp, Canadian Pacific Railay, Peyto Exploration and Ballard Power Systems were among the other notable gainers.

Canopy Growth Corp. shares tanked nearly 10%. Fortuna Silver Mines plunged more than 8%, and Aurora Cannabis closed down 4%.

Tilray, Westshore Terminals, Fortis, Silvercrest Metals, SNC Lavalin, Ivanhoe Mines, HudBay Minerals, Open Text Corporation, Air Canada, Russel Metals and Descartes Systems Group also ended notably lower.

Data from Statistics Canada showed the annual inflation rate in Canada edged higher to 1.9% in January 2025, from 1.8% in the previous month. The CPI in Canada rose 0.1% from a month earlier in January 2025, as expected, compared with a 0.4% decline in December 2024.

The annual core inflation rate in Canada which excludes eight of the most volatile components such as food, energy and mortgage interest costs, rose for the second month to 2.1% in January 2025, the highest in nearly a year, up from December's 1.8%. On a monthly basis, core consumer prices increased by 0.4%, after falling by 0.3% in the prior month.