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TSX Ends Higher For 3rd Straight Day

The Canadian stock market ended higher on Thursday, gaining for a third straight session, thanks to gains in information technology and healthcare sections.

With the U.S. market closed for Thanksgiving, activity was somewhat subdued. Worries about a surge in coronavirus cases and fresh lockdown measures in several countries across Europe weighed on sentiment.

The benchmark S&P/TSX Composite Index ended with a gain of 64.75 points or 0.3% at 21,613.18, after scaling a low of 21,571.22 and a high of 21,649.06 intraday.

The Capped Information Technology Index climbed nearly 1%. Hut 8 Mining Corp (HUT.TO) surged up 6.1%, Tecsys Inc (TCS.TO) gained nearly 5%, Dye & Durham (DND.TO) rallied 3.65% and Lightspeed Pos (LSPD.TO) advanced 3.1%. Enghouse Systems (ENGH.TO) and Viq Solutions (VQS.TO) also moved up sharply.

Healthcare stocks Organigram Holdings (OGI.TO) and Chartwell Retirement Residences (CSH.UN.TO) gained 1.8% and 1.6%, respectively. Sienna Senior Living (SIA.TO), Canopy Growth Corp (WEED.TO), Well Health Companies (WELL.TO), Tilray Inc (TLRY.TO) and Bausch Health Companies (BHC.TO) gained 0.7 to 1%.

According to a report released by the Canadian Federation of Independent Business, the CFIB Business Barometer long-term index rose 1.7 points to 62.2 in November, the highest reading since August.

Data released by Statistics Canada showed average weekly earnings of non-farm payroll employees in Canada rose 2.6% year-on-year to C$ 1,137 in September, and little changed from the previous month. It was the steepest pace of increase since March.

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