TSX Ends On Buoyant Note Again

(RTTNews) - The Canadian stock market ended on a bright note on Tuesday, extending gains from previous session, tracking a firm trend in global markets amid hopes the Chinese government would provide additional stimulus to boost the country's economy.

Healthcare, information technology, industrial, consumer discretionary and financial shares posted strong gains. Consumer staples and telecommunications shares also found support, while energy and materials shares turned in a mixed performance.

The benchmark S&P/TSX Composite Index ended up 132.97 points, or 0.77%, at 17,512.73, after scaling a low of 17,493.82 and a high of 17,548.80 intraday.

Bombardier Inc. (BBD.B.TO) soared nearly 18% on strong volumes on reports the company is in talks to sell its private jet unit to Textron Inc.

First Quantum Minerals (FM.TO) gained about 10.7%. Aurora Cannabis (ACB.TO) gained nearly 6.5%, while Lundin Mining Corporation (LUN.TO) and Teck Resources (TECK.B.TO) gained 5.5% and 5%, respectively.

Toronto-Dominion Bank (TD.TO), Canadian Natural Resources (CNQ.TO), Manulife Financial Resources (MFC.TO) and Bank of Nova Scotia (BNS.TO) gained 1 to 1.75%.

ARC Resources (ARX.TO), Barrick Gold Corporation (ABX.TO), B2Gold Corp (BTO.TO) and Crescent Point Energy (CPG.TO) declined sharply.

U.S. stocks rose sharply, after Chinese market rebounded following the nosedive seen on Monday. Expectations of additional stimulus by the Chinese government and strong data on U.S. factory orders lifted sentiment.

The Dow jumped 1.4%, the Nasdaq soared 2.1% and the S&P 500 gained 1.5%.

Stock markets across the Asia-Pacific region moved mostly higher on Tuesday. The major European markets also posted strong gains.

In commodities, West Texas Intermediate Crude oil futures for March ended down $0.50, or about 1%, at $49.61 a barrel, well off the day's high of $51.55 a barrel. That was the lowest settlement since January 2019.

Gold futures for April ended down $26.90, or about 1.7%, at $1,555.50 an ounce, the lowest settlement in more than two weeks.

Silver futures for March ended down $0.109 at $17.561 an ounce, while Copper futures for March ended up $0.0350 at $2.5420 per pound.