TSX Snaps 3-day Losing Streak, Ends Notably Higher

(RTTNews) - After posting losses for three straight sessions, the Canadian market saw some sustained buying at several counters from across various sectors on Thursday to end the day's session on a firm note.

Investors digested a slew of earnings announcements and economic data from Canadian and U.S. companies.

Healthcare, financials, communications, materials, technology and real estate stocks were among the prominent gainers.

The benchmark S&P/TSX Composite Index ended with a gain of 155.92 points or 0.77% at 20,522.64 after scaling a low of 20,400.81 and a high of 20,546.69 intraday.

Spin Master Corp (TOY.TO) shares soared more than 12% on huge volumes. Boyd Group Services (BYD.TO), Colliers International (CIGI.TO), Teck Resources (TECK.A.TO), Premium Brands International (PBH.TO) and National Bank of Canada (NA.TO) gained 2 to 4.15%.

Bombardier Inc (BBD.B.TO) ended nearly 5% down. The company reported a profit of $302 million or $2.98 per share in the first quarter, compared with a loss of $287 million or $3.09 per share in the same quarter a year ago.

Precision Drilling Corporation (PD.TO) ended lower by about 4%. Canadian Utilities (CU.TO) and Waste Connections (WCN.TO) also ended notably lower.

In economic news, Canada's CFIB Business Barometer long-term optimism index increased to a ten-month high of 55.7 in April of 2023 from 55.3 in the previous month, the Canadian Federaion of Independent Business said in its report.