TSX Ends Marginally Up
2024-11-05
4259
(fxcue news) - After opening slightly up and rising further Monday morning, the Canadian market turned a bit sluggish and then kept paring gains as the day progressed before finally settling with a marginal gain.
Donald Trump's win in the U.S. presidential election continued to aid sentiment and contributed to market's early gains. However, with a slew of key economic data due this week, the mood turned cautious.
The benchmark S&P/TSX Composite Index closed up 29.88 points or 0.12% at 24,789.28, well off the day's high of 24,901.51, but still recorded a new closing high.
Technology stocks moved up sharply. Several stocks from the financials sector moved higher. Materials shares fell on weak metal prices.
Technology stocks Bitfarms (BITF.TO) and Converge Technology Solutions (CTS.TO) closed stronger by about 16.9% and 7.3%, respectively.
BlackBerry (BB.TO), Lightspeed Commerce (LSPD.TO) and Shopify Inc (SHOP.TO) gained 4.3%, 4.1% and 3.4%, respectively. Shopify Inc (SHOP.TO) climbed 3.4% and Constellation Software (CSU.TO) advanced 2.3%.
In the financials sector, Onex Corp (ONEX.TO) rallied more than 6.5%. Brookfield Corporation (BN.TO) climbed 3% and Brookfield Asset Management (BAM.TO) closed up 2.5%, while Manulife Financial (MFC.TO), Fairfax Financial Holdings (FFH.TO) and Bank of Montreal (BMO.TO) gained 2%, 1.4% and 1.35%, respectively.
Seabridge Gold Inc (SEA.TO) fell more than 9%. Agnico Eagle Mines (AEM.TO) dropped about 6.8%. Franco-Nevada Corporation (FNV.TO), Wheaton Precious Metals (WPM.TO), Docebo Inc (DCBO.TO), Newmont Corporation (NGT.TO) and Lundin Gold (LUG.TO) lost 2.5 to 6%.
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