TSX Ends Higher As Tech Stocks Rally

RTTNews | 1 дней спустя

(RTTNews) - The Canadian market closed higher on Tuesday, recovering well after snapping a nine-day winning streak on Monday, thanks to strong buying in the technology sector.

Investors now await monetary policy announcement from the Bank of Canada. The central bank is widely expected to cut interest rate on Wednesday.

The Federal Reserve is also scheduled to announce its monetary policy tomorrow. The Fed is likely to hold rates, but the focus is on the accompanying statement.

The benchmark S&P/TSX Composite Index closed up 130.30 points or 0.52% at 25,419.45, after scaling a low of 25,277.05 and a high of 25,425.86 intraday.

The Information Technology Capped Index climbed 4.41%. Shopify Inc (SHOP.TO) zoomed 9.6% and Celestica climbed about 8.25%.

Blackberry (BB.TO) gained 6.5% and Sylogist (SYZ.TO) ended 3.8% up. Open Text Corp (OTEX.TO), Constellation Software (CSU.TO), Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO), Kinaxis Inc (KXS.TO), Enghouse Systems (ENGH.TO) and CGI Group Inc (GIB.A.TO) closed higher by 1.3 to 3%.

Molson Coors Canada (TPX.A.TO) soared 11.1%. Canada Goose Holdings (GOOS.TO) rallied 9.7%. Propel Holdings (PRL.TO) gained 6.7% and Telesat Corporation (TSAT.TO) closed up 5.9%.

Velan Inc (VLN.TO), TerraVest Industries (TVK.TO), MDA Space (MDA.TO), Dayforce (DAY.TO), Cameco Corporation (CCO.TO), Wheaton Precious Metals (WPM.TO), K-Bro Linen (KBL.TO) and AtkinsRealis (ATRL.TO) gained 2 to 5%.

Metro Inc (MRU.TO) closed more than 3% down. The company reported net earnings of $259.5 million for the first quarter of fiscal 2025, up 13.6% compared to a year ago. Adjusted net earnings for the latest quarter came in at $245.4 million, which was up 4.4% compared to the year-ago quarter.

Bombardier Inc (BBD.B.TO), BRP Inc (DOO.TO), Ivanhoe Mines (IVN.TO), Teck Resources (TECK.A.TO), Aecon Group (ARE.TO), Boralex (BLX.TO), Methanex Corporation (MX.TO) and Precision Drilling Corporation (PD.TO) lost 2.5 to 4%.

TSX Rises To Record High On All-round Buying

The Canadian market is up firmly in positive territory a little before noon on Thursday with stocks from several sectors moving higher on strong buying support. Mining stocks are up sharply following a notable increase in metal prices, and technology stocks are gaining in strength, tracking impressive earnings updates from a few big name U.S. tech companies.

RTTNews | 5ч 46мин назад

U.S. Pending Home Sales Unexpectedly Pull Back Sharply In December

After reporting four straight monthly increases by U.S. pending home sales, the National Association of Realtors released a report on Thursday showing pending home sales unexpectedly pulled back sharply in the month of December. NAR said its pending home sales index plunged by 5.5 percent to 74.2 in December after jumping by 1.6 percent to a downwardly revised 78.5 in November.

RTTNews | 7ч 4мин назад

U.S. Economic Growth Slows More Than Expected In Q4

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RTTNews | 7ч 30мин назад

U.S. Jobless Claims Dip More Than Expected To 207,000

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RTTNews | 7ч 45мин назад

U.S. Gross Domestic Product Jumps Less Than Expected In Q4

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RTTNews | 8ч 58мин назад

U.S. Weekly Jobless Claims Dip More Than Expected

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RTTNews | 9ч 3мин назад

Bay Street Likely To Open Higher

anadian shares look headed for a positive start Thursday morning with firm bullion prices triggering some buying in the materials sector. Investors will also be reacting positively to encouraging updates from a few big name U.S. tech companies.

RTTNews | 9ч 8мин назад

UK Mortgage Approvals Rise Unexpectedly

Mortgage approvals in the UK increased unexpectedly in December as home buyers rushed to avoid higher stamp duty from April, official data revealed Thursday. The number of mortgage approvals for house purchases increased to 66,500 in December from 66,000 in November, the Bank of England said. Approvals were expected to fall to 65,000.

RTTNews | 9ч 22мин назад

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