TSX Ends On Buoyant Note
(RTTNews) - The Canadian stock market ended on a buoyant note on Monday, lifted by some strong results and encouraging data on manufacturing activity.
Data released by Markit Economics showed Canada's manufacturing activity expanded in October, with the IHS Markit Canada Manufacturing PMI going up to 57.7, from 57 in the prior month. October's score is the highest reading since last March.
Healthcare, information technology, energy and consumer discretionary shares posted impressive gains. Several stocks from consumer staples and materials sections too moved higher.
The Capped Healthcare Index climbed 3.13%. Organigram Holdings (OGI.TO), Aurora Cannabis (ACB.TO), Canopy Growth Corp (WEED.TO), Cronos Group (CRON.TO) and Tilray Inc (TLRY.TO) gained 4 to 5.2%. Bausch Health Companies (BHC.TO) and Well Health Technologies Corp (WELL.TO) gained 1.7% and 2.3%, respectively.
Technology stocks BlackBerry (BB.TO), Viq Solutions (VQS.TO), Shopify Inc (SHOP.TO) and Hut 8 Mining (HUT.TO) gained 4.5 to 5.2%. Celestica Inc (CLS.TO), Kinaxis Inc (KXS.TO) and Nuvei Corp (NVEI.TO) also rallied sharply.
The benchmark S&P/TSX Composite Index ended with a gain of 209.94 points or 1% at 21,247.01.
Golden Star Resources (GSC.TO) zoomed 17%. Golden Star Resources Ltd. (GSC.TO) and Chifeng Jilong Gold Mining Co., Ltd. have entered into a definitive agreement, pursuant to which Chifeng has agreed to acquire all of the issued and outstanding common shares of Golden Star.
Westport Fuel Systems Inc (WPRT.TO) shares soared nearly 16%. Imperial Oil (IMO.TO), Lightspeed Pos (LSPD.TO), Methanex Corp (MX.TO), Docebo Inc (DCBO.TO), Alimentation Couche-Tard (ATD.B.TO) and BRP Inc (DOO.TO) gained 3 to 4.2%.
Cargojet Inc. (CJT.TO) shares declined 5.5%. The company reported adjusted EBITDA of $70.9 million for the third-quarter, compared to the third quarter 2020 adjusted EBITDA of $69.8 million.
Copper Mountain Mining Corporation (CMMC.TO) reported third-quarter net income of $25.8 million, or $0.08 per share. The stock gained nearly 2%.
