TSX Posts Fresh Closing High As Stocks Extend Gains To Sixth Session

(RTTNews) - The Canadian stock market extended gains to a sixth straight session, as shares from healthcare, energy, materials and information technology sections rallied on Monday.

Likelihood of additional U.S. fiscal stimulus, optimism about swifter global economic recovery following a drop in new cases of coronavirus infections in several places across the world and the momentum in vaccination drive aided sentiment. Higher commodity prices contributed as well to market's rise.

The benchmark S&P/TSX Composite Index ended up 194.36 points or 1.07% at 18,330.26, slightly off the day's high of 18,333.83, a new all-time high. Scoring gains on all five sessions, the index moved up 4.6% last week.

The Capped Healthcare Index surged up 5.65%. Aurora Cannabis (ACB.TO) and Aphria Inc. (APHA.TO) soared 15.8% and 13.5%, respectively. Aurinia Pharmaceuticals (AUP.TO) gained 7.2%, Cronos Group (CRON.TO) ended nearly 7% up, Trillium Therapeutics (TRIL.TO) gained 6.3% and Bausch Health Companies (BHC.TO) ended with a gain of 2.6%.

Among energy shares, Arc Resources (ARX.TO) and Enerplus Corp (ERF.TO) both gained about 6.5%. Vermilion Energy (VET.TO) rallied 6.1%, MEG Energy (MEG.TO) and PrairieSky Royalty (PSK.TO) both ended higher by about 5%, while Whitecap Resources (WCP.TO) and Tourmaline Oil Corp (TOU.TO) gained 3.8% and 2.6%, respectively. Suncor Energy ended nearly 2% up.

In the materials space, Methanex Corp (MX.TO), Teck Resources (TECK.B.TO). Novagold (NG.TO), Ivanhoe Mines (IVN.TO), MAG Silver Corp (MAG.TO) and First Majestic Silver (FR.TO) gained 4 to 6%.

Technology stocks Photon Control (PHO.TO) and Shopify Inc. (SHOP.TO) gained 6.6% and 4.5%, respectively. BlackBerry (BB.TO) rallied 3.4% and Celestica Inc. (CLS.TO) ended 2.2% up.

Westshore Terminals Investment Corporation (WTI.TO) shares gained nearly 13%. The company projects to load a volume of 25 million tonnes of coal in the year 2021. Earlier, in December 2020, the company had projected volumes of about 21 million tonnes for 2021.

CRH Medical Corporation (CRH.TO) shares soared nearly 80% after the company announced that it has signed a definitive agreement with Well Health Technologies Corp., pursuant to which WELL Health will acquire CRH for US$4.00 per share, representing an aggregate purchase price of approximately US$292.7 million and a transaction value of approximately US$369.2 million.