TSX Snaps 4-day Losing Streak, Ends More Than 1% Up

(RTTNews) - The Canadian market ended on a strong note on Monday thanks to some hectic bargain hunting at several counters after four successive days of losses. Technology, healthcare, financials and industrials stocks were among the major gainers.

Materials, utilities, real estate and consumer staples stocks too had a good session.

Investors awaited key inflation data from the U.S. and the monetary policy announcement from the European Central Bank this week.

The benchmark S&P/TSX Composite Index ended up by 245.72 points or 1.08% at 23,027.15. The index touched a low of 22,879.16 and a high of 23,082.44 intraday.

Healthcare stocks Tilray Inc (TLRY.TO) and Sienna Senior Living (SIA.TO) gained 5.45% and 1.55%, respectively.

Technology stocks Bitfarm (BITF.TO) and Dye & Durham (DND.TO) climbed 7.8% and 5.5%, respectively. Kinaxis Inc (KXS.TO), Celestica Inc (CLS.TO) and BlackBerry (BB.TO) gained 3.6 to 4%. Alithya Group (ALYA.TO), Descartes Systems Group (DSG.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO), Docebo Inc (DCBO.TO) and Enghouse Systems (ENGH.TO) also closed notably higher.

In the financials sector, EQB Inc (EQB.TO), CDN Western Bank (CWB.TO), Canadian Imperial Bank of Commerce (CM.TO), goeasy (GSY.TO), Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Laurentian Bank (LB.TO) and Bank of Nova Scotia (BNS.TO) moved up 1.5 to 2.7%.

Among industrials stocks, Brookfield Business Partners (BBU.UN.TO), Mda (MDA.TO), Ats Corp (ATS.TO), Cae Inc (CAE.TO), Mullen Group (MTL.TO) and Canadian Pacific Kansas (CP.TO) ended higher by 2 to 3.4%.

Dayforce Inc (DAY.TO), Franco-Nevada Corporation (FNV.TO), Colliers International (CIGI.TO), WSP Global (WSP.TO), Thomson Reuters (TRI.TO) and Waste Connections (WCN.TO) were among the other prominent gainers.

Methanex Corporation (MX.TO) tumbled nearly 8%. Methanex announced on Sunday that it has entered into a definitive agreement to acquire OCI Global's international methanol business for $2.05 billion.

The deal includes OCI's interest in two methanol facilities in Beaumont, Texas, one of which also produces ammonia; OCI HyFuels, a low-carbon methanol production and marketing business; and an idled methanol facility in the Netherlands.

BRP Inc (DOO.TO) ended down 6.8%. Telesat Corporation (TSAT.TO), Westshore Terminals Investment Corporation (WTE.TO), Tourmaline Oil Corp (TOU.TO) and Paramount Resources (POU.TO) also declined sharply.