TSX Ends Modestly Higher

(RTTNews) - The Canadian market ended slightly higher on Wednesday, supported by gains in materials and energy stocks thanks to rising bullion and oil prices.

Healthcare stocks had a good session. Consumer discretionary, technology and real estate stocks were weak, while stocks from the rest of the sectors ended mixed.

The benchmark S&P/TSX Composite Index ended with a gain of 37.36 points or 0.17% at 22,112.46 after scaling a low of 22,062.72 and a high 22.173.60 intraday.

Tilray Inc (TLRY.TO) ended with a hefty gain of 16.7%. Aurora Cannabis (ACB.TO) soared nearly 44%, and Canopy Growth Corporation (WEED.TO) zoomed 29.6%.

In the energy sector, Precision Drilling Corp (PD.TO) climbed 7.25%. Headwater Exploration (HWX.TO), Tamarack Valley Energy (TVE.TO), Pason Systems (PSI.TO), Birchcliff Energy (BIR.TO), Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO), Arc Resources (ARX.TO) and Baytex Energy (BTE.TO) gained 2 to 4%.

Among materials shares, First Majestic Silver Corp (FR.TO) climbed 16.4%. Fortuna Silver Mines (FVI.TO) rallied 13.2%. Pan American Silver Corp (PAAS.TO), MAG Silver Corp (MAG.TO), Osisko Mining (OSK.TO), Methanex Corp (MX.To), B2Gold Corp (BTO.TO) and New Gold Inc (NGD.TO) gained 4.3 to 7%.

Consumer discretionary stocks Restaurant Brands International (QSR.TO), Dollarama Inc (DOL.TO), Mty Food Group (MTY.TO), Linamar Corp (LNR.TO) and BRP Inc (DOO.TO) ended lower by 1 to 2%.

Technology stocks Copperleaf Technologies (CPLF.TO) and Shopify Inc (SHOP.TO) ended lower by 4.9% and 3.4%, respectively. Kinaxis (KXS.TO) and Descartes Systems Group (DSG.TO) also settled notably lower, while Lightspeed Commerce (LSPD.TO), Sylogist (SYZ.TO), Celestica Inc (CLS.TO), Hut 8 Mining (HUT.TO) and Alithya Group (ALYA.TO) moved up sharply.

Indigo Books & Music Inc. (IDG.TO) shares surged nearly 23% after the company announced that it has entered into an arrangement agreement with Trilogy Investments L.P. and Trilogy Retail Holdings Inc. whereby Trilogy will acquire all of the issued and outstanding common shares of the Company that Trilogy, its affiliates and joint actors do not currently own for C$2.50 in cash per share.

Vecima Networks Inc. (VCM.TO) gained 5.4% after the company announced that it has signed an asset purchase agreement to buy the cable business assets of Casa Systems, Inc. and some of Casa's subsidiaries for $20 million.

On the economic front, the S&P Global Canada Composite PMI edged down to 47.0 in March, showing a slight contraction from February's 47.1, and marking the tenth straight month of slowdown in private sector activity in the country.

The S&P Global Canada Services PMI recorded a slight decline to 46.4 in March, from February's 46.6, falling for the tenth consecutive month.