Technology, Materials Stocks Lift TSX To Firm Close

(RTTNews) - The Canadian market closed on a firm note on Wednesday thanks to strong buying in technology and materials sectors.

Weakness in healthcare, communications and consumer discretionary sectors limited the market's upside.

The market gained despite reports that U.S. President-elect Donald Trump is planning to impose new tariffs.

The benchmark S&P/TSX Composite Index ended the session with a gain of 121.79 points or 0.49% at 25,051.68, slightly off the day's high of 25,061.55.

K92 Mining Inc (KNT.TO) zoomed nearly 16%. Equinox Gold Corp (EQX.TO) climbed 10%. Eldorado Gold (ELD.TO), Celestica Inc (CLS.TO), ATCO (ACO.Y.TO), Constellation Software (CSU.TO), Franco-Nevada Corporation (FNV.TO), Brookfield Asset Management (BAM.TO), Alamos Gold (AGI.TO) and Arc Resources (ARX.TO) gained 3 to 5%.

Calibre Mining Corp (CXB.TO) climbed 9.5% after the company reported record gold production in the fourth quarter or 2024.

Alimentation Couche-Tard Inc (ATD.TO) gained 2.5% following a rating upgrade to "Outperform" by National Bank of Canada.

GFL Environmental (GFL.TO), Canadian Tire Corporation (CTC.TO), Torex Gold Resources (TXG.TO), Keyera Corp (KEY.TO) and Agnico Eagle Mines (AEM.TO) were among the other major gainers in the session.

Boralex Inc (BLX.TO) closed down 5.6%. Hut 8 Corp (HUT.TO), Telesat Corporation (TSAT.TO), Bombardier Inc (BBD.B.TO), Methanex Corporation (MX.TO), Linamar Corporation (LNR.TO), Stella-Jones (SJ.TO) and Magna International (MG.TO) lost 3 to 5.2%.