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TSX Ends Modestly Higher After Cautious Session

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The Canadian market ended higher on Friday, led by gains in technology and energy sectors.

The mood remained a bit cautious amid concerns about interest rates and the impact of higher borrowing costs on global economic growth. Investors reacted to a slew of earnings updates.

The benchmark S&P/TSX Composite Index ended up by 67.06 points or 0.34% at 19,654.47. The index shed about 0.9% in the week.

SNC Lavalin Group Inc (ATRL.TO) surged 8.2% on strong results. SNC reported adjusted net income $67.3 million for the third-quarter, compared with adjusted net income $52.1 million in Q3 2022.

Stantec Inc (STN.TO) gained about 8.6%. Bombardier Inc (BBD.A.TO) gained about 5%. Molson Coors Canada Inc (TPX.A.TO), Constellation Software (CSU.TO), ATS Corporation (ATS.TO), Descartes Systems Group (DSG.TO), Toromont Industries (TIH.TO) and Imperial Oil (IMO.TO) advanced 2 to 4%. TFI International (TFII.TO) and Canadian National Railway (CNR.TO) also posted strong gains.

Saputo Inc (SAP.TO) dropped nearly 6%. The company reported a 3.1% drop in revenue at C$4.32 billion in its fiscal second quarter.

Cargojet (CJT.TO), Canadian Pacific Kansas City (CP.TO), goeasy (GSY.TO), Linamar Corporation (LNR.TO), EQB Inc (EQB.TO) and Nutrien (NTR.TO) lost 1.5 to 3.2%.

Technology stocks Dye & Durham (DND.TO), Tecsys Inc (TCS.TO), Lightspeed Commerce (LSPD.TO), Open Text Corporation (OTEX.TO), Shopify Inc (SHOP.TO) and Docebo Inc (DCBO.TO) posted strong gains.

Headwater Exploration Inc (HWX.TO), up 6.5%, was the top gainer in the Energy index. Athabasca Oil Corp (ATH.TO), Baytex Energy (BTE.TO), Shawcor (MATR.TO), MEG Energy (MEG.TO), Cenovus Energy (CVE.TO) and Vermilion Energy (VET.TO) gained 2.5 to 4.4%.

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2023-11-10 17:47:01

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