TSX Ends Marginally Up

(RTTNews) - The Canadian stock market ended marginally up on Tuesday after moving in a very narrow range above the flat line, as investors largely stayed cautious and refrained from making significant moves.

With some crucial economic data due from either side of the border later this week, traders were quite reluctant to create fresh positions.

Consumer discretionary, industrials and energy shares were among the prominent gainers. Healthcare stocks declined, while stocks from other sectors turned in a mixed performance.

The benchmark S&P/TSX Composite Index ended up by 25.77 points or 0.13% at 20,171.02, after hitting a high of 20,214.35 in the session.

Consumer discretionary stock Gildan Activewear (GIL.TO) climbed nearly 4.5%. Canada Goose Holdings (GOOS.TO) gained 3.5%, Aritzia Inc (ATZ.TO) moved up more than 2% and Sleep Country Canada Holdings (ZZZ.TO) gained 1.7%.

Among industrials shares, Cargojet Inc (CJT.TO) gained 5.3%. Gfl International (GFL.TO), Richelieu Hardware (RCH.TO), Mullen Group (MTL.TO), Air Canada (AC.TO) and Tfi International (TFII.TO) gained 1.4 to 2%. Canadian National Railway (CNR.TO), Canadian Pacific Railway (CP.TO) and Boyd Group Services (BYD.TO) also ended notably higher.

Energy stocks Tourmaline Oil Corp (TOU.TO) and Arc Resources (ARX.TO) gained 4.4% and 3.7%, respectively. Enerplus Corp (ERF.TO) and Vermilion Energy (VET.TO) also posted strong gains.

Aurinia Pharmaceuticals (AUP.TO), down 3.7%, wast the most prominent loser in the Healthcare index. Tilray Inc (TLRY.TO) ended lower by 3.5%, while Organigram Holdings (OGI.TO), Cronos Group (CRON.TO) and Canopy Growth Corp (WEED.TO) lost 1.9 to 2.2%. Aurora Cannabis (ACB.TO) closed 1.65% down.

Manulife Financial Corporation (MFC.TO) said it remains committed to its medium-term targets and has a clear path to delivering 10 to 12% annual Core earnings per share growth. The company said it plans to generate 75% of total core earnings from highest potential businesses by 2025. The stock edged up marginally.

Corus Entertainment Inc. (CJR.B.TO) shares gained more than 6.5% after the company reported a profit of $40.7 million or 19 cents per share in the quarter ended May 31, 2021, compared with a loss of $752.3 million or $3.61 per diluted share a year ago when it recorded $786.8 million in broadcast licence and goodwill impairment charges.