(RTTNews) – The Canadian market posted a report closing excessive for the third consecutive day as know-how shares climbed larger on sturdy shopping for curiosity on Friday.
Communications, industrials and shopper discretionary shares have been among the many different notable gainers.
Expectations of additional financial easing by the central financial institution helped underpin sentiment. Knowledge displaying a slowdown in Canadian GDP development restricted market’s upside.
The benchmark S&P/TSX Composite Index climbed to 25,694.45 earlier than settling at 25,648.00, with a acquire of 104.48 factors or 0.41%. The index gained about 0.8% within the week.
Knowledge from Statistics Canada confirmed the Canadian GDP expanded by 0.3% from the sooner quarter within the three months to September of 2024, slowing from 0.5% expansions within the first two quarters of the yr.
The Canadian economic system expanded an annualized 1% within the third quarter, following an upwardly revised 2.2% development within the second quarter.
A report from the Canadian Federation of Impartial Enterprise stated small enterprise sentiment in Canada elevated to 59.70 factors in November from 55.80 factors in October of 2024. Small Enterprise Sentiment in Canada reached an all time excessive of 74.07 factors in April of 2002 and a report low of 30.84 factors in March of 2020.
Atco Ltd. (ACO.Y.TO) shares rallied 6.7% and Telesat Company (TSAT.TO) climbed 6%. Cogeco Communications (CCA.TO) closed up 4.7%, whereas Quebecor (QBR.A.TO) and Hut 8 Corp (HUT.TO) gained 3.8% and three.3%, respectively.
Cogeco Inc (CGO.TO) superior by about 3.1%. Ag Development Company (AFN.TO), Kinaxis Inc (KXS.TO), Bombardier Inc (BBD.B.TO), Shopify Inc (SHOP.TO), Cameco Company (CCO.TO), Aritzia Inc (ATZ.TO), AtkinsRealis (ATRL.TO), TFI Worldwide (TFII.TO), Magna Worldwide (MG.TO), Celestica Inc (CLS.TO), Precision Drilling Company (PD.TO) and Cargojet (CJT.TO) ended larger by 1 to 2.5%.
Morguard Company (MRC.TO), Rogers Communications (RCI.A.TO), Maple Leaf Meals (MFI.TO), Parkland Company (PKI.TO) and Metro Inc (MRU.TO) have been among the many notable losers.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
