TSX Closes Modestly Higher

(RTTNews) - Despite suffering a couple of setbacks during the course of the day's session, the Canadian stock market ended on a positive note on Friday, supported by gains in some telecom, healthcare, materials and consumer discretionary sections.

Energy and information technology stocks were a bit weak. Buying interest was somewhat subdued despite continued optimism about global economic recovery. Concerns about spikes in coronavirus cases in several countries across the world rendered the mood cautious.

The benchmark S&P/TSX Composite Index ended with a modest gain of 29.40 points or 0.15% at 19,351.32, after moving between 19,293.78 and 19,380.68. The index gained 1.9% in the week.

Ballard Power Systems (BLDP.TO), B2Gold Corp (BTO.TO) and Boarlex Inc (BLX.TO) gained 3.75%, 2.1% and 1.2%, respectively, on strong volumes.

Shaw Communications (SJR.B.TO), Canadian National Railway (CNR.TO) and Barrick Gold Corporation (ABX.TO) also posted notable gains.

Air Canada (AC.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO) and Brookfield Renewable Corporation (BEPC.TO) were among the prominent losers in the session.

Data from Statistics Canada showed wholesale sales in Canada decreased to -0.4% in February from 4% in January.

Another data showed new motor vehicles sales in the country rose to 119,000 in February, after coming in at 96,475 in the previous month.

According to another report from Statistics Canada, Canadian investors acquired $10.5 billion of foreign securities in February, continuing a trend of net purchases that began in May last year. Meanwhile, foreign investment in Canadian securities reached $8.5 billion, led by strong acquisitions of Canadian shares.