Canadian Market Climbs To New Record High

(RTTNews) - The Canadian market climbed to a fresh record higher on Wednesday with stocks from across several sectors posting strong gains amid rising prospects of an interest rate cut by the Federal Reserve in September.

The benchmark S&P/TSX Composite Index is up 288.65 points or 1.26% at 23,113.34.

Dayforce Inc. (DAY.TO) is soaring nearly 12%. The company reported net loss of $1.8 million for the second quarter of the current financial year, compared to net income $3.1 million in the year-ago quarter.

CGI Inc (GIB.A.TO) is gaining more than 4.5%. The company reported third-quarter net earnings of $440.1 million, up 6.1% year-over-year.

Celestica Inc (CLS.TO) is gaining 6.3%. Precision Drilling Corporation (PD.TO) is up 5.8%. Teck Resources (TECK.A.TO) and Shopify Inc (SHOP.TO) are up 4% and 3%, respectively.

Intact Financial Corporation (IFC.TO), Constellation Software (CSU.TO), TFI International (TFII.TO), Kinaxis Inc (KXS.TO), goeasy (GSY.TO), Boyd Group Services (BYD.TO), Fairfax Financial Holdings (FFH.TO) and George Weston (WN.TO) are up 1.2 to 2.6%.

Spin Master Corp (TOY.TO) is down 5.2% after the company reported a loss in the second quarter. Allied Properties Real Estate (AP.UN.TO) is lower by 4.7%. Stella-Jones Inc (SJ.TO) is down 1.7%.

Fortis Inc. (FTS.TO) is gaining about 1.3%. The company reported second quarter net earnings of $331 million or $0.67 per common share, up from $294 million or $0.61 per common share in the year-ago quarter.

Endeavour Mining Inc. (EDV.TO) reported a net loss of $60 million for the second quarter of the current financial year, compared to a net loss of $20 million in the year-ago quarter. The stock is down nearly 4%.

Data from Statistics Canada showed Canada's GDP remained unchanged at 0.1% in June.