TSX Ends At 5-week High

(RTTNews) - The Canadian market ended at a five-week high on Thursday, despite staying somewhat subdued right through the day's session in lackluster trade.

Due to a lack of positive triggers, investors appeared reluctant to make significant moves. With the U.S. market closed today for Independence Day holiday, the volume of business was thin in the Canadian market.

The benchmark S&P/TSX Composite Index ended with a gain of 20.35 points or 0.09% at 22,244.02, the highest close since May 31.

Terravest Industries (TVK.TO), ATCO Ltd. (ACO.X.TO), Gildan Activewear (GIL.TO), Celestica Inc (CLS.TO), Precision Drilling Corp (PD.TO), TFI International (TFII.TO), Imperial Oil (IMO.TO) and Morguard Corporation (MRC.TO) gained 1 to 2%.

CGI Inc (GIB.A.TO), Waste Connections (WCN.TO), Stantec (STN.TO) and Descartes Systems Group (DSG.TO) posted moderate gains.

Goeasy (GSY.TO) tanked nearly 10%. The company announced a leadership transition plan today, as Jason Mullins will transition out of his role as President & Chief Executive Officer at year-end, and will remain as a Director on the Board.

Hut 8 Corp (HUT.TO) ended down 6.1%. EQB Inc (EQB.TO), Cargojet (CJT.TO), Intact Financial Corporation (IFC.TO) and WSP Global (WSP.TO) ended modestly lower.

Data from S&P Global said that its Canada Composite PMI was at 47.5 in June, refraining from holding the expansion signaled by the 50.6 in the earlier month, which was the first period of growth in the Canadian private sector activity in one year.

The Services PMI dropped to 47.1 in June, the lowest reading since March, from 51.1 in the previous month, while factory activity declined for the 14th month running, dropping to 49.3 in June.