TSX Extends Record Run, Settles Slightly Up

Despite seeing a lackluster session, the Canadian stock market hit a new all-time high on Friday, led by gains in energy and industrials sections.

Healthcare, information technology and consumer discretionary stocks drifted lower. A few stocks from financials and consumer staples sections posted notable gains, while shares from other sectors closed mixed.

Despite positive cues from U.S. and European markets, easing worries about Evergrande's debt woes and data showing a surge in Canadian retail sales, the market failed to move up any significantly above the flat line today.

The benchmark S&P/TSX Composite Index, which moved in a tight range between 21,133.86 and 21,265.76, ended the day with a gain of 3.76 points or 0.02% at 21,216.15, finishing higher for the thirteenth straight session.

Among energy stocks, MEG Energy (MEG.TO) gained 3.75%. PrairieSky Royalty (PSK.TO), Tourmaline Oil Corp (TOU.TO), Arc Resources (ARX.TO), Crescent Point Energy (CPG.TO), Whitecap Resources (WCP.TO), Vermilion Energy (VET.TO) and Imperial Oil (IMO.TO) gained 1.5 to 2.3%.

Bombardier Inc (BBD.B.TO), up 4.35%, was the top gainer in the Industrials Index. Tfi International (TFII.TO), Canadian National Railway (CNR.TO), Gfl Environmental (GFL.TO) and Canadian Pacific Railway (CP.TO) gained 1.5 to 2.3%.

Cannabis shares Cronos Group (CRON.TO), Canopy Growth Corp (WEED.TO), Organigram Holdings (OGI.TO), Aurora Cannabis (ACB.TO) and Tilray Inc (TLRY.TO) shed 4 to 5.4%.

A sell-off in semiconductor giant Intel on Wall Street after the company warned of lower profit margins over the next few years weighed on technology stocks in the Canadian market too.

Shopify Inc (SHOP.TO), Hut 8 Mining Corp (HUT.TO), Lightspeed Pos (LSPD.TO), BlackBerry (BB.TO) and Tecsys Inc (TCS.TO) lost 2.7 to 4.6%.

Consumer discretionary stocks Magna International (MG.TO) and Sleep Country Canada Holdings (ZZZ.TO) ended lower by 3.5% and 3.1%, respectively. Martinrea International (MRE.TO), Linamar Corp (LNR.TO) and Brp Inc (DOO.TO) declined 1.25 to 1.5%.

In economic news, data from Statistics Canada showing retail sales rose 2.1% in August over the previous month. Retail Sales Ex Autos in Canada increased 2.8% in August, rebounding from -1% in the previous month.

Canadian retail sales climbed 8.4% in August over the same month in the previous year, after rising by 5.3% y-o-y in July.

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