logo
Plus   Neg
Share
Email

TSX Records New Closing High

The Canadian stock market hit a new all-time high on Friday as the mood remained bullish amid renewed optimism about U.S.-China trade deal and higher crude oil prices.

Investors were also digesting quarterly earnings reports and a slew of economic data from the U.S. and Europe.

The benchmark S&P/TSX Composite Index ended up 56.29 points, or 0.33%, at 17,028.47 a new closing high. The index touched a fresh record high of 17,035.96.

Energy shares Tourmaline Oil Corp (TOU.TO) gained about 4.2%. MEG Energy (MEG.TO), Imperial Oil (IMO.TO), PrairieSky Royalty (PSK.TO), Cenvous Energy (CVE.TO) and Vermilion Energy (VET.TO) gained 2 to 3%.

Husky Energy (HSE.TO), Baytex Energy (BTE.TO), Parex Resources (PXT.TO), Suncor Energy (SU.TO) and Whitecap Resources (WCP.TO) also ended notably higher.

Aurora Cannabis Inc. (ACB.TO) plunged 18% after the company reported net cannabis revenue of $70.8 million for the first quarter of fiscal 2020, compared to $94.6 million in the fourth quarter of fiscal 2019.

Cronos Group Inc. (CRON.TO) shed more than 7%, Hexo Corp (HEXO.TO) declined 5.6% and Canopy Growth Corp (WEED.TO), while Aphria Inc. (APHA.TO) shed 3.2% and 3.1%, respectively.

First Quantum Minerals (FM.TO), Lundin Mining Corporation (LUN.TO) and Bombardier Inc. (BBD.B.TO) gained 1.5 to 4.6%.

Crescent Point Energy (CPG.TO) gained nearly 1%. The company announced it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year.

Detour Gold Corporation (DGC.TO) soared 11% after the company reported adjusted net earnings of $35.3 million ($0.20 per basic share) for the third quarter of fiscal 2019, compared to adjusted net loss of $1.5 million ($0.01 per basic share) in the year-ago quarter.

In economic news, data released by Statistics Canada said foreign investors acquired $4.8 billion of Canadian securities in September, while Canadian investors reduced their holdings of foreign securities by $2.4 billion.

A report from the Canadian Real Estate Association declared home selling activity was up 12.9% year-over-year. The number of newly listed properties declined by 1.8% month-on-month. The MLS Home Price Index advanced by 0.6% month-on-month and 1.8% year-on-year.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT
>