TSX Ends Modestly Higher
(RTTNews) - After struggling to find its grip in positive territory till an hour past noon, the Canadian stock market managed to edge higher on Tuesday, and despite some wild swings, ended the session with modest gains.
The benchmark S&P/TSX Composite Index ended up 35.81 points, or 0.22%, at 16,263.87. The index touched a low of 16,194.85 and a high of 16,263.87 in the session.
On Monday, the index ended up 125.97 points, or 0.78%, at 16,228.06, the day's high.
Though crude oil prices extended gains for a third straight day, energy stocks failed to find any strong support.
Consumer staples and materials sections saw some buying. Financial, consumer discretionary, information technology, healthcare and industrial shares turned in a mixed performance.
In the banking space, Royal Bank of Canada (RY.TO), Toronto-Dominion Bank (TD.TO), Bank of Montreal (BMO.TO) and Canadian Imperial Bank of Commerce (CM.TO) gained 0.4 to 0.6%. National Bank of Canada (NA.TO) edged up marginally, while Bank of Nova Scotia (BNS.TO) closed lower by about 0.4%.
Energy stocks Encana Corporation (ECA.TO) and Crescent Point Energy (CPG.TO) declined sharply and lost 2.9% and 2.7%, respectively.
In the materials space, Barrick Gold Corporation (ABX.TO), Kinross Gold Corporation (K.TO) and Goldcorp (G.TO) ended with solid gains.
Among pot stocks, Green Organic Dutchman Holdings (TGOD.TO) declined 2.7%, Aphria Inc. (APHA.TO) shed 1.6% and Aurora Cannabis (ACB.TO) ended lower by 0.9%.
U.S. stocks ended mixed after showing a lack of direction following the strong upward move seen in the previous session.
Investors were looking for news on the progress of U.S.-China trade negotiations, and were largely making cautious moves after data showed a drop in durable goods orders.
European markets ended higher, extending gains to a third session, even as concerns about Brexit uncertainty continued to weigh on sentiment.
Asian markets ended mostly higher on Monday, reacting to positive manufacturing data from the U.S.
In commodities, West Texas Crude oil futures for May ended up $0.99, or 1.6%, at $62.58 a barrel, registering the highest settlement price since early November.
Gold futures for June ended up $1.20, at $1,295.40 an ounce.
Silver futures for May ended down $0.038, at $15.061 an ounce, while Copper futures for May settled at $2.9055 per pound, losing $0.0190 for the session.