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Canadian Market Moderately Higher; Dollarama Rises On Strong Results
(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Wednesday, aided by gains in consumer discretionary and technology stocks.
Concerns about global banking crisis have eased further after top U.S. regulators expressed confidence that banks were solvent, blaming the recent collapse of Silicon Valley Bank on mismanagement, rather than systemic risks.
The benchmark S&P/TSX Composite Index, which climbed to a high of 19,834.01, is up 132 points or 0.67% at 19,789.53 nearly half an hour past noon.
In the consumer discretionary sector, Aritzia Inc (ATZ.TO) is surging nearly 7.5%. Mty Food Group (MTY.TO), Brp Inc (DOO.TO), Canadian Tire Corporation (CTC.A.TO), Spin Master Corp (TOY.TO) and Magna International (MG.TO) are gaining 1 to 2%.
Dollarama Inc (DOL.TO) is up nearly 3% on strong results. Dollarama reported fourth-quarter diluted net earnings of $0.91 per share, up 23% from a year ago. Diluted net earnings rose 26.6% to $2.76 in fiscal 2023 from the previous year, the company said.
In the technology space, Coveo Solutions (CVO.TO) is soaring nearly 10%. Hut 8 Mining (HUT.TO) is rising 6.5% and Shopify Inc (SHOP.TO) is gaining 4.2%. BlackBerry (BB.TO) is advancing 3%, while Softchoice (SFTC.TO), Sylogist (SYZ.TO), Lightspeed Commerce (LSPD.TO), Payfare Inc (PAY.TO) and Absolute Software Corp (ABST.TO) are up 1.3 to 2%.
Canadian Dollar Falls Against Most Majors
Canadian Market Modestly Higher; Technology Stocks Among Notable Gainers
Swiss Market Ends Marginally Up
Major European Markets Close On Mixed Note
Positive Start Seen For Canadian Stocks
UK Market Roughly Flat; Mining Stocks Move Higher
CAC 40 Climbs Higher For 3rd Straight Day
