13.11.2019 23:39:39

TSX Ends Modestly Higher, Posts New Closing High

(RTTNews) - The Canadian market started off on a slightly weak note on Wednesday, but recovered swiftly and then stayed positive right till the end of the session to eventually close with modest gains.

Uncertainty about a potential trade deal between the U.S. and China, and rising tensions in Hong Kong due to the political unrest contributed to early weakness, while a recovery in oil prices and some encouraging earnings reports pulled the market up from lower levels.

The benchmark S&P/TSX Composite Index ended up 48.61 points, or 0.29%, at 16.957.99, after scaling a low of 16,880.68 and a high of 16,987.29 in the session.

Bombardier Inc. (BBD.B.TO), Emera Inc. (EMA.TO), Yamana Gold (YRI.TO), Barrick Gold Corp (ABX.TO), Enbridge Inc. (ENB.TO) and B2Gold Corp (BTO.TO) gained 1.3 to 2.6% on strong volumes.

Canada Goose Holdings Inc. (GOOS.TO) plunged nearly 11%. The company reported adjusted net income of $63.6 million, or $0.57 per diluted share for the second quarter, compared to adjusted net income of $51.1 million, or $0.46 per diluted share a year ago.

Organigram Holdings (OGI.TO) declined 6.7% and Encana Corporation (ECA.TO) shed about 1.8%.

Home Capital Group (HCG.TO) soared more than 14% thanks to strong third-quarter earnings.

Logistec Corp (LGT.A.TO) ended with a hefty gain of 9%. CAE Inc. (CAE.TO), Shopify Inc. (SHOP.TO), Kirklan Lake Gold (KL.TO), Constellation Software (CSU.TO) and BRP Inc. (DOO.TO) gained 2 to 4%.

Cogeco Communications (CCA.TO), Kinaxis Inc. (KXS.TO), Premium Brands Holdings (PBH.TO), Canadian Pacific Railway (CP.TO) and Thomson Reuters (TRI.TO) advanced 1.4 to 2%.

U.S. stocks ended mixed after another lackluster performance. The Dow edged up 0.33% and the S&P 500 gained 1% to record their new closing highs.

Stock markets across the Asia-Pacific region and Europe moved mostly lower.

In commodities, West Texas Intermediate Crude oil futures for December ended up $0.32, or about 0.6%, at $57.12 a barrel.

Gold futures for December ended up $9.60, or about 0.7%, at $1,463.30 an ounce, after advancing to a high of $1,467.60 an ounce.

Silver futures for December ended at $16,913.00 an ounce, gaining $0.221 for the session. Copper futures for December settled at $2.6395 per pound, down 0.0060 from previous close.

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