(RTTNews) – The Canadian stock market recorded another high as shares continued to move up on Thursday, riding on strong private sector jobs data and on hopes the trade agreement between the U.S. and China will help boost global growth.
Shares from consumer discretionary, real estate, consumer staples and utilities sections scored strong gains. A few stocks from telecommunications and information technology sectors too ended on a firm note. Materials shares declined.
The benchmark S&P/TSX Composite Index ended up 69.60 points, or 0.4%, at $17,484.77, slightly off a new all-time high of 17,489.56.
Organigram Holdings (OGI.TO) gained nearly 9%, adding to the hefty returns scored in the previous session.
Aurora Cannabis (ACB.TO) gained about 3.75%. Baytex Energy (BTE.TO) gained 3.5% and MEG Energy (MEG.TO) advanced 1.2% on strong volumes.
Toronto-Dominion Bank (TD.TO), Manulife Financial (MFC.TO), Enbridge Inc. (ENB.TO) and B2Gold Corp (BTO.TO) closed modestly higher.
Bombardier Inc. (BBD.B.TO) plunged 32% after the company said it expects full-year results to be lower than previously forecast, hurt partly by challenging rail projects.
Hexo Corp (HEXO.TO) declined more than 4%. Canopy Growth Corporation (WEED.TO) and Aphria Inc. (APHA.TO) lost 2.4% and 1.6%, respectively. Cenovus Energy (CVE.TO) ended down 1.1%.
According to report from Automatic Data Processing Inc., private businesses in Canada added 46,200 jobs in December, the sixth straight month of gains. In November 2019, private bussinesses had added 30.90 thousand jobs.
A report from Statistics Canada said car Registrations in Canada decreased to 146,259 Units in November from 163,201 Units in October of 2019.
U.S. stocks moved sharply higher over the course of the trading session on Thursday, adding to the modest gains posted in the previous session. The major averages climbed to new record closing highs.
The Dow jumped 0.9%, the Nasdaq spiked 1.1% and the S&P 500 surged up 0.8%.
The U.S.-China phase on trade deal, data on jobless claims, retail sales and Philadelphia region manufacturing activity contributed to the gains on Wall Street.
Asian markets ended mostly higher and the major European markets turned in a mixed performance.
In commodities, West Texas Intermediate crude oil futures for February ended up $0.71, or about 1.2%, at $58.52 a barrel.
Gold futures for February ended down $3.50, or about 0.2%, at $1,550.50 an ounce.
Silver futures for March ended down $0.049 at $17.939 an ounce, while Copper futures for March ended lower by $0.0190 at $2.8470 per pound.
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