The Canadian market closed on a robust note Monday after several days of losses, thanks to strong bargain hunting across various sectors. Major gainers included technology, healthcare, financial, and industrial stocks.Materials, utilities, real estate, and consumer staples stocks also had a noteworthy session.Investors are now eagerly awaiting key inflation data from the U.S. and a monetary policy announcement from the European Central Bank later this week.The S&P/TSX Composite Index went up by 245.72 points, or 1.08%, to close at 23,027.15. During the session, the index fluctuated between 22,879.16 and 23,082.44.In the healthcare sector, Tilray Inc (TLRY.TO) and Sienna Senior Living (SIA.TO) rose by 5.45% and 1.55%, respectively.Technology stocks also saw significant gains. Bitfarm (BITF.TO) increased by 7.8% and Dye & Durham (DND.TO) by 5.5%. Kinaxis Inc (KXS.TO), Celestica Inc (CLS.TO), and BlackBerry (BB.TO) saw gains ranging from 3.6% to 4%. Additionally, Alithya Group (ALYA.TO), Descartes Systems Group (DSG.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO), Docebo Inc (DCBO.TO), and Enghouse Systems (ENGH.TO) posted notable increases.Within the financials sector, EQB Inc (EQB.TO), CDN Western Bank (CWB.TO), Canadian Imperial Bank of Commerce (CM.TO), goeasy (GSY.TO), Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Laurentian Bank (LB.TO), and Bank of Nova Scotia (BNS.TO) saw gains between 1.5% and 2.7%.The industrial sector also performed well with Brookfield Business Partners (BBU.UN.TO), Mda (MDA.TO), Ats Corp (ATS.TO), Cae Inc (CAE.TO), Mullen Group (MTL.TO), and Canadian Pacific Kansas (CP.TO) ending higher by 2% to 3.4%.Other prominent gainers included Dayforce Inc (DAY.TO), Franco-Nevada Corporation (FNV.TO), Colliers International (CIGI.TO), WSP Global (WSP.TO), Thomson Reuters (TRI.TO), and Waste Connections (WCN.TO).On the downside, Methanex Corporation (MX.TO) plunged nearly 8% following the announcement of a definitive agreement to acquire OCI Global’s international methanol business for $2.05 billion. The acquisition includes OCI’s interest in two methanol facilities in Beaumont, Texas, one of which also produces ammonia, OCI HyFuels—a low-carbon methanol production and marketing business—and an idled methanol facility in the Netherlands.BRP Inc (DOO.TO) fell by 6.8%, and other decliners included Telesat Corporation (TSAT.TO), Westshore Terminals Investment Corporation (WTE.TO), Tourmaline Oil Corp (TOU.TO), and Paramount Resources (POU.TO).The material has been provided by InstaForex Company – www.instaforex.com
- Czech Retail Sales Growth Accelerates in August, Reaching 5.30% - October 8, 2024
- Czech Unemployment Rate Sees Slight Uptick in September - October 8, 2024
- France Sees Rise in Imports: August Figures Show a Notable Increase - October 8, 2024
