TSX Ends On Buoyant Note

(RTTNews) - The Canadian stock market ended on a buoyant note on Friday as investors indulged in some hectic buying in various sectors amid easing fears about monetary tightening after some Fed officials said a rate hike is unlikely in the foreseeable future.

Strong data on Canadian manufacturing sales and wholesales in the month of March aided sentiment.

Higher crude oil and bullion prices triggered strong buying in energy and materials shares, contributing significantly to market's upbeat close. Stocks from information technology, healthcare, financial and real estate sectors too closed with impressive gains.

The benchmark S&P/TSX Composite Index ended up by 230.88 points or 1.21% at 19,366.69, after climbing to a high of 19,393.28. Despite today's sharp surge, the index shed about 0.55% in the week.

The Capped Energy Index moved up 2.7%. MEG Energy (MEG.TO) soared 7.25%. Vermilion Energy (VET.TO), Cenovus Energy (CVE.TO), Canadian Natural Resources (CNQ.TO) and Whitecap Resources (WCP.TO) gained 3 to 4.25%. Crescent Point Energy (CPG.TO), Enerplus Corp (ERF.TO), Suncor Energy (SU.TO) and PrairieSky Royalty (PSK.TO) also rose sharply.

Among materials shares, Endeavour Silver Corp (EDR.TO) gained about 6.2%. Silvercrest Metals (SIL.TO), Silvercorp Metals (SVM.TO) and MAG Silver Corp (MAG.TO) gained 5 to 5.5%. Lithium Americas Corp (LAC.TO), Endeavour Mining Corp (EDV.TO), Novagold (NG.TO), First Majestic Silver (FR.TO) and Teck Resources (TECK.B.TO) also posted strong gains.

Technology stocks Sierra Wireless (SW.TO) and Hut 8 Mining Corp (HUT.TO) climbed 9% and 8.3%, respectively. Lightspeed Pos (LSPD.TO), BlackBerry (BB.TO) and Shopify Inc (SHOP.TO) gained 5.3%, 5.2% and 3.1%, respectively.

Aurinia Pharmaceuticals (AUP.TO), up 8.25%, was the top gainer in the Healthcare Index. Canopy Growth Corp (WEED.TO) gained 3.1%, Sienna Senior Living (SIA.TO) climbed 3% and Bausch Health Companies (BHC.TO) gained 2.85%.

SNC-Lavalin Group Inc. (SNC.TO) shares zoomed 16% after the company reported a first-quarter net income attributable to shareholders of C$73.05 million, compared to a net loss of C$65.96 million in the prior-year quarter. Adjusted net income was C$0.51 per share, compared to last year's C$0.52 per share.

Data from Statistics Canada showed manufacturing sales in Canada increased by 3.5% in March, after falling 1.6% a month earlier.

The data also showed Canadian wholesale sales rose by 2.8% in March, after coming in at -0.7% in February.

Another data from Statistics Canada said car registrations in Canada increased to 173,485 units in March, up from 115,322 units in the previous month.