TSX Ends Modestly Higher

(RTTNews) - The Canadian stock market ended modestly higher on Thursday, reacting positively to the latest batch of economic data. Continued optimism about global economic recovery contributed as well to market's rise.

The benchmark S&P/TSX Composite Index ended with a gain of 50.73 points or 0.25% at 20,215.12, after scaling a low of 20,176.40 and a high of 20,257.83 intraday.

Healthcare stocks posted strong gains. The Capped Healthcare Index climbed 3.36%. Canopy Growth Corp (WEED.TO) and Trillium Therapeutics (TRIL.TO) both ended higher by about 5.2%.

Cronos Group (CRON.TO), Aurora Cannabis (ACB.TO), Tilray Inc (TLRY.TO), Aurinia Pharmaceuticals (AUP.TO) and Organigram Holdings (OGI.TO) gained 3.5 to 4.5%, while Bausch Health Companies (BHC.TO) and Sienna Senior Living (SIA.TO) gained 2.3% and 1.6%, respectively.

Consumer discretionary shares Spin Master Corp (TOY.TO), Canada Goose Holdings (GOOS.TO), Sleep Country Canada Holdings (GOOS.TO) and Magna International (MG.TO) gained 2 to 4.2%. Martinrea International (MRE.TO) and Linamar Corp (LNR.TO) also ended notably higher.

Financial shares Onex Corp (ONEX.TO), Laurentian Bank (LB.TO), Manulife Financial (MFC.TO) and Fairfax Financial Holdings (FFH.TO) posted impressive gains.

According to a survey, Export Development Canada's Trade Confidence Index has climbed 19% in the six months to June 2021. The jump is the largest 6-month increase since the survey began in 1999.

Statistics Canada said that according to a flash estimate, Canada's manufacturing sales went up 1% from a month earlier in May, rebounding from a 2.1% drop in April, on the back of a widespread recovery across Canadian industries.

Wholesale sales in Canada likely advanced by 1.1% month-over-month in May of 2021, following a 0.4% rise in the previous month, preliminary estimates showed. The increase reflects higher sales in the machinery, equipment and supplies subsector.

Another data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada advanced 1.1% year-on-year to C$ 1,129 in April, the slowest annual increase since February of 2019.