TSX Ends Modestly Higher

(RTTNews) - The Canadian stock market ended on a positive note on Thursday, gaining for a third straight day, although buying interest was somewhat subdued with investors looking for more concrete triggers to make significant moves.

Optimism about coronavirus vaccine and a U.S. stimulus plan supported the uptick, while concerns over a surge in virus infections and possibilities of tighter restrictions rendered the mood cautious.

The benchmark S&P/TSX Composite Index ended with a modest gain of 39.81 points or 0.23% at 17,398.02.

Telecom stocks had a good session. The Capped Telecom Services Index climbed 1.3%. Shaw Communications (SJR.B.TO) gained 2.3%, Rogers Communications (RCI.B.TO) advanced 1.7%, Telus Corp (T.TO) moved up 1.4% and Corus Entertainment (CJR.B.TO) ended with a gain of 1.15%.

Aurora Cannabis (ACB.TO), up 2.7%, was the top gainer in the Healthcare Index. Cronos Group (CRON.TO) climbed 1.9%, while Aphria Inc. (APHA.TO), Chartwell Retirement Residences (CSH.UN.TO) and Canopy Growth Corp (WEED.TO) gained 1.2 to 1.5%.

WSP Global (WSP.TO) soared nearly 12%. Air Canada (AC.TO), New Flyer Industries (NFI.TO), Transcontinental (TCL.A.TO), Finning International (FTT.TO), Gildan Activewear (GIL.TO), Brp Inc. (DOO.TO), Empire Company (EMP.A.TO) and Saputo (SAP.TO) were among the top gainers from consumer staples, consumer discretionary and industrial sectors.

In the utitilies section, Capital Power Corp (CPX.TO) and Transalta (TA.TO) were among the impressive gainers.

Energy stocks Crescent Point Energy (CPG.TO), Imperial Oil (IMO.TO), Suncor Energy (SU.TO), Cenovus Energy (CVE.TO), Husky Energy (HSE.TO) and Canadian Natural Resources (CNQ.TO) gained 1.2 to 3.4%.

In the materials section, Eldorado Gold (ELD.TO), IamGold (IMG.TO), Wheaton Precious Metals (WPM.TO), Barrick Gold Corporation (ABX.TO) and Silvercorp Metals (SVM.TO) lost 2 to 4%, while Lundin Mining (LUN.TO), Labrador Iron Ore (LIF.TO), First Quantum Minerals (FM.TO), Intertape Polymer (ITP.TO) and Teck Resources (TECK.B.TO) posted strong gains.

In the banking spave, Canadian Imperial Bank of Commerce (CM.TO) edged up marginally. The bank reported fourth quarter adjusted earnings per share of C$2.79 compared to C$2.84, a year ago. That beat expectations for adjusted earnings per share of $2.52. The stock is up by about 0.3%.

Toronto-Dominion Bank (TD.TO) ended slightly weak. The group reported fourth-quarter net income of C$5.14 billion or C$2.80 per share, up sharply from C$2.86 billion or C$1.54 per share in the year-ago period.