TSX Posts New Closing High As Stocks Extend Gains To 4th Straight Day

(RTTNews) - Canadian stocks ended higher on Thursday, extending gains to a fourth successive session, as optimism about a quicker economic recovery and additional U.S. economic stimulus triggered steady buying at several counters.

Easing concerns about speculative trading and higher crude oil prices also contributed to the positive mood in the market.

Consumer staples, consumer discretionary, energy, financial and technology stocks were among the notable gainers. Healthcare stocks eased on profit taking after recent strong gains. Materials stocks turned in a mixed performance.

The benchmark S&P/TSX Composite Index ended with a gain of 126.06 points or 0.7% at 18,041.97 after hitting a new all-time high of 18,072.17.

In the consumer staples section, Saputo Inc. (SAP.TO) gained 4.2%, while The North West Company (NWC.TO), Alimentation Couche-Tard (ATD.B.TO), Weston George (WN.TO) and Empire Company (EMP.A.TO) gained 1.2 to 2%.

Among consumer discretionary shares, Canada Goose Holdings Inc. (GOOS.TO) climbed more than 22%. The company reported net income of $107.0 million, or $0.96 per diluted share for the third quarter ended December 27, 2020, compared to $118.0 million, or $1.07 per diluted share in the year-ago quarter.

Aritzia (ATZ.TO), Linamar Corp (LNR.TO) and Gildan Activewear (GIL.TO) gaomed 2.7 to 3.6%.

In the energy section, Seven Generations Energy (VII.TO) gained nearly 6% and MEG Energy (MEG.TO) ended 4.8% up, while PrairieSky Royalty (PSK.TO), Tourmaline Oil Corp (TOU.TO) and Whitecap Resources (WCP.TO) moved up 3.3 to 3.8%.

Bank of Montreal (BMO.TO), Brookfield Asset Management (BAM.A.TO), Manulife Financial (MFC.TO), Bank of Nova Scotia (BNS.TO) and Laurentian Bank (LB.TO) gained 1 to 1.8%.

In the technology section, Absolute Software Corp (ABST.TO), Photon Control (PHO.TO), Docebo Inc. (DCBO.TO), Shopify Inc. (SHOP.TO), BlackBerry (BB.TO) and Celestica Inc. (CLS.TO) ended sharply higher.