TSX Enjoys Respectable, Not Speactular, Gains



Equities in Canada’s largest centre enjoyed gains Thursday, albeit not nearly as grand as those south of the border, powered largely by industrial and money stocks.

The TSX Composite moved higher 41.55 points, off its highs of the day, to conclude the session Thursday at 22,087.26.

The Canadian dollar gave back 0.33 cents to 73.89 cents U.S.

Industrials led the charge, with TFI International hurtling higher $4.57, or 2.2%, to $217.14, while Cargojet grabbed $2.17, or 2%, to $108.95.

Financials also had a banner day, with Brookfield Asset Management marching $1.46, or 2.6%, to $57.77, and Sprott picked up $1.14, or 2.4%, to $49.05.

In utilities, Brookfield Infrastructure Partners increased in price 52 cents, or 1.3%, to $40.40, while Algonquin Power & Utilities jumped 15 cents, or 2%, to $8.23.

Consumer staples folded, however, with a plunge of $3.15, or 3.1%, by Alimentation Couche-Tard to $78.37. Premium Brands sank $1.50, or 1.7%, to $87.69.

In communications, Rogers doffed 88 cents, or 1.5%, to$56.98,. while Cogeco Communications waned 52 cents to $59.73.

ON BAYSTREET

The TSX Venture Exchange gained 3.29 points to 553.17.

All but two of the 12 TSX subgroups were in plus territory, led by industrials, 0.9%, financials, better by 0.8%, and utilities, up 0.7%.

The lone laggards were consumer staples, down 0.7%, while communications lost 0.2%.

ON WALLSTREET

Stocks climbed Thursday and technology shares outperformed, adding to the previous session’s gains that led to new records on Wall Street.

The Dow Jones Industrials surged 269.76 points to 39,781.89.

The S&P 500 index gained 16.9 points to 5,241.52.

The NASDAQ advanced 32.43 points to 16,401.84.

Micron Technology jumped 16% on strong earnings and headed for its best day since December 2011. The news lifted the semiconductor sector, with Nvidia and Intel added more than 1%, while Taiwan Semiconductor rose 2.5%.

Megacap tech stocks that led the recent rally contributed to the session’s gains, with Meta Platforms, Microsoft and Amazon adding nearly 1%. Apple bucked the broader tech-driven uptrend, slumping 4% after the Justice Department filed an antitrust lawsuit against the iPhone maker. Social media company Reddit surged more than 40% above its initial public offering price in its market debut.

Wall Street will monitor earnings reports from FedEx and Nike after the market close.

Thursday’s moves follow a winning day on Wall Street that sent the three major indexes to new closing highs, with the S&P 500 breaking above 5,200 for the first time.

Prices for the 10-year Treasury were higher, lowering yields to 4.27% at Wednesday’s 4.28%.

Oil prices slid 22 cents to $81.05 U.S. a barrel.

Gold prices rallied $21.90 to $2,182.90.



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