TSX Ends Higher For 3rd Straight Day

(RTTNews) - The Canadian stock market closed higher on Tuesday, extending gains to a third straight session, thanks to strong gains in energy, healthcare and information technology shares.

Optimism about growth after U.S. drug regulator gave its final approval to Pfizer-BioNTech Coronavirus vaccine, and another rally in crude oil prices lifted the market.

The benchmark S&P/TSX Composite Index ended with a gain of 70.50 points or 0.34% at 20,547.76.

Cenovus Energy (CVE.TO), Crescent Point Energy (CPG.TO), MEG Energy Corp (MEG.TO) and Vermilion Energy (VET.TO) gained 3 to 4.1%. Tourmaline Oil Corp (TOU.TO) climbed 2.4%, while, Enerplus Corp (ERF.TO), Whitecap Resources (WCP.TO), Suncor Energy (SU.TO) and Arc Resources (ARX.TO) gained 1.5 to 1.8%.

Among the stocks in the healthcare section, Organigram Holdings (OGI.TO) and Aurora Cannabis (ACB.TO) gained 3.75% and 3.5%, respectively. Cronos Group (CRON.TO), Tilray Inc (TLRY.TO) and Canopy Growth Corp (WEED.TO) moved up 2.5 to 2.6%.

Among information technology stocks, BlackBerry (BB.TO) rallied nearly 9%. Quarterhill (QTRH.TO) climbed 6%, while Nuvei Corp (NVEI.TO) and Shopify Inc (SHOP.TO) gained 4% and 3.4%, respectively.

Bank of Nova Scotia (BNS.TO) reported third-quarter net income of $2,542 million, compared to $1,304 million in the same period last year. Diluted earnings per share were $1.99, up 91% from $1.04 in the previous year. The stock declined by about 0.8%.

BMO Financial Group (BMO.TO) shares gained 1.7%. The bank said it recorded strong pre-provision pre-tax earnings of C$2.9 billion for the third quarter, up 12% year-over-year, driven by revenue growth of 10%. Third-quarter adjusted earnings per share was C$3.44, up 86% from last year.