TSX Ends Modestly Higher After Volatile Session

(RTTNews) - Canadian shares swung between gains and losses on Thursday before ending the session modestly higher, led by gains in energy and materials sections.

Worries about global growth and trade tensions continued to weigh on the market. Higher crude oil prices and the dovish tone of the Federal Reserve aided sentiment and guided the market to a positive close.

The benchmark S&P/TSX Composite Index ended up 21.41 points, or 0.14%, at 15,484.55, after scaling a low of 15,418.64 and a high of 15,520.91 intraday.

On the economic front, A report from Statistics Canada said average weekly earnings of Canadians in non-farm jobs came in at $1.012 in November, little changed from the previous month. Compared to November 2017, earnings were up 2%.

The Capped Energy Index gained 1.03%, with several stocks in the sector moving higher on rising crude oil prices. Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO), Vermilion Energy (VET.TO), ARC Resources (ARX.TO), Cenovus Energy (CVE.TO) and Encana Corporation (ECA.TO) gained 0.5 to 2%. MEG Energy (MEG.TO) gained 2.8% and Crescent Point Energy (CPG.TO) strengthened by 2.1%, while Tourmaline Oil Corporation (TOU.TO) ended higher by 2.51%.

Precision Drilling Corporation (PD.TO) ended nearly 14% up after the company announced plans for capital expenditure, updates on debt repayments, strategies for 2019 and expected goodwill impairment at year-end 2018.

The Capped Materials Index gained 0.57%. Teck Resources (TECK.B.TO) gained 2.35%, Kirkland Lake Gold (KL.TO) advanced by 2.3% and First Quantum Minerals (FM.TO) surged up more than 3.75%. B2Gold Corp (BTO.TO) and Yamana Gold (YRI.TO) also ended notably higher.

Among bank stocks, Bank of Montreal (BMO.TO) and National Bank of Canada (NA.TO) gained 0.7% and 0.55%, respectively. Toronto-Dominion Bank (TD.TO) ended flat, while Royal Bank of Canada (RY.TO), Bank of Nova Scotia (BNS.TO) and Canadian Imperial Bank of Commerce (CM.TO) edged up marginally.

In the technology space, Shopify Inc (SHOP.TO) gained nearly 2.5%, BlackBerry (BB.TO) added 1.23%, Enghouse Systems (ENGH.TO) ended up 1.3% and Sierra Wireless (SW.TO) gained nearly 1.5%.

Cannabis shares turned in a mixed performance. Aphria Inc (APHA.TO) gained more than 4%, Canopy Growth Corporation (WEED.TO) ended 0.88% up and Cronos Group (CRON.TO) added 0.5%. Hexo Corp. (HEXO.TO) and Aurora Cannabis (ACB.TO) declined marginally.

Green Organic Dutchman Holdings (TGOD.TO) ended more than 5% down, after having lost more than 6% in the previous session. Bombardier (BBD.B.TO), another stock that move on strong volumes, ended 2.1% up.

U.S. stocks ended higher on Wednesday, as traders reacted positively to the Federal Reserve's monetary policy announcement.

Markets in Europe ended mostly higher and Asian markets ended mixed on Wednesday.

In commodities, crude oil futures were up by about 0.9%, or 1.7%, at $54.22 a barrel.

Gold futures for February were gaining more than $10 or 0.8%, after the Federal Reserve left interest rate unchanged and said it would be 'patient' with regard to future rate hikes.

Silver futures for March were rising $0.236, or 1.5%, at $16.075 an ounce, while Copper futures for March were up $0.049, or 1.7%, at $2.774 per pound.