TSX Ends Modestly Higher
(RTTNews) - The Canadian market ended modestly higher on Tuesday after a somewhat volatile session, as investors awaited the Federal Reserve's monetary policy announcement on Wednesday, and some crucial economic data from the U.S. and Canada for directional cues.
The benchmark S&P/TSX Composite Index ended up 45.10 points or 0.2% at 22,824.67, after scaling a low of 22,775.46 and a high of 22,900.38 intraday.
Healthcare, consumer staples and utilities stocks were among the notable gainers. A few stocks from the financial sector moved up as well. Technology stocks traded weak.
Filo Corp (FIL.TO) surged 8.8%. Filo Corp announced that BHP and Lundin Mining Corp (LUN.TO) will acquire all of the outstanding shares of Filo that they do not already own, for C$ 4.5 billion. Lundin Mining ended 2.6% down.
George Weston Limited (WN.TO) reported adjusted net earnings of $394 million for the second quarter, an increase of $17 million, or 4.5%, compared to the year-ago quarter. The stock gained about 0.5%.
Atco Inc (ACO.Y.TO) climbed nearly 8%. Pollard Banknote (PBL.TO) gained about 5%. Canadian Tire Corporation (CTC.TO), Toronto-Dominion Bank (TD.TO), BRP Inc (DOO.TO), iA Financial Corporation (IAG.TO), TFI International (TFII.TO), West Fraser Timber (WFG.TO) and Intact Financial Corporation (IFC.TO) gained 1 to 2.5%.
Bank of Montreal (BMO.TO) dropped about 5.4% following a rating downgrade.
Celestica Inc (CLS.TO), Colliers International (CIGI.TO), Kinaxis Inc (KXS.TO), Boyd Group Services (BYD.TO) and Toromont Industries (TIH.TO) lost 1 to 2.2%.
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