TSX Posts Fresh Closing High
(RTTNews) - The Canadian stock market recorded fresh intraday and closing highs on Tuesday amid continued optimism the phase one trade deal to be signed by the U.S. and China on Wednesday will help ease tensions between the two countries and positively impact global economic growth.
Healthcare and materials shares were among the prominent gainers. A few stocks from consumer, industrial and energy sections posted strong gains, while information technology and financial shares were mostly subdued.
The benchmark S&P/TSX Composite Index ended up 59.48 points, or 0.34%, at 17,352.90, slightly off a new all-time high of 17,356.47.
Hexo Corp (HEXO.TO) and Aurora Cannabis (ACB.TO) both ended higher by about 5%. Canopy Growth Corporation (WEED.TO) gained 3.4%.
Kinross Gold Corporation (K.TO), Teck Resources (TECK.B.TO), Canadian Natural Resources (CNQ.TO) and Suncor Energy (SU.TO) gained 1.5 to 2.7%, on strong volumes.
Endeavour Mining Corporation (EDV.TO) moved up 5.5% and MTY Food Group (MTY.TO) gained 4.3%. Canada Goose Holdings (GOOS.TO), Methanex Corp (MX.TO) and BRP Inc. (DOO.TO) ended higher by more than 2.5%.
Aphria Inc. (APHA.TO) declined more than 8.5% after the company reported a net loss for the second quarter.
Encana Corporation (ECA.TO) ended lower by nearly 2.5% and Cenovus Energy (CVE.TO) shed about 1.2%.
U.S. shares ended mixed after a lackluster session. The Dow hit a record intraday high, but failed to hold gains and ended just marginally up. The Nasdaq and the S&P 500 both shed 0.2%.
Traders seemed reluctatnt to make significant moves as they digested quarterly results from several big-name financial companies. JP Morgan Chase and Citigroup reported better than expected results, while Wells Fargo's numbers missed expectations.
Stock markets in the Asia-Pacific region turned in a mixed performance, while the major European markets ended slightly higher.
In commodities, West Texas Intermediate Crude oil futures ended up $0.15, or 0.2%, at $58.23 a barrel, snapping a five-day losing streak.
Gold futures for February ended down $6.00, or about 0.4%, at $1,544.60 an ounce, the lowest settlement in nearly two weeks.
Silver futures for March ended lower by $0.254 at $17.742 an ounce, while Copper futures for March settled at $2.8735 per pound, gaining $0.0125 for the session.
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