Canadian Market Looks Set To End Week On A Firm Note
2025-02-06
4760
(fxcue news) - The Canadian market remains firmly placed in positive territory Thursday afternoon, lifted by gains in communications, technology and real estate sectors recording impressive gains.
A few stocks from energy, consumer staples and utilities sectors are also up with strong gains.
Despite concerns about tariff and fears of a trade war, the mood in the market remains fairly bullish.
The benchmark S&P/TSX Composite Index is up 128.86 points or 0.5% at 25,691.97 with less than an hour to go for the closing bell.
Communications stock Telus Corp (T.TO) is up 3.5%. Telus reported fourth-quarter net income of $320 million, compared with net income of $310 million in the year-ago quarter.
Rogers Communications (RCI.B.TO) is rising 1.8%, while BCE Inc (BCE.TO) and Quebecor Inc (QBR.B.TO) are up 1.3% and 1.1%, respectively.
In the technology sector, Shopify Inc (SHOP.TO) is rising nearly 4%. Bitfarms (BITF.TO) and Descartes Systems Group (DSG.TO) are gaining 2.6% and 2%, respectively. Docebo Inc (DCBO.TO) is up 1.4%, while CGI Group Inc (GIB.A.TO) and Constellation Software (CSU.TO) are up 1% and 0.9%, respectively.
Real estate stocks Smartcentres Real Estate (SRU.UN.TO), Choice Properties (CHP.UN.TO), Riocan Real Estate (REI.UN.TO) and Crombie Real Estate Investment Trust (CRR.UN.TO) are up 2 to 3%.
Calian Group Inc. (CGY.TO) reported stronger-than-expected adjusted earnings of $10.5 million, or $0.88 per diluted share for the first quarter. However, the stock is tumbling 9%.
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