The Canadian stock market ended modestly higher on Tuesday, extending gains to a sixth straight session, as positive developments on the vaccine front helped keep sentiment positive.
The benchmark S&P/TSX ended with a gain of 56.65 points or 0.32% at 17,639.00, after scaling a low of 17,541.62 and a high of 17,654.92.
Energy and healthcare stocks were the top gainers. A few stocks from industrials, consumer staples and financial sections too posted notable gains. Consumer discretionary stocks were weak.
Crescent Point Energy (CPG.TO) surged up nearly 7%. Hexo Corp (HEXO.TO) rallied 4.75%, BlackBerry (BB.TO) climbed 3.4%, Cenovus Energy (CVE.TO) gained 3.3% and Suncor Energy (SU.TO) gained 2.1%.
Aurora Cannabis (ACB.TO), Bank of Nova Scotia (BNS.TO), MEG Energy (MEG.TO) and Air Canada (AC.TO) gained 1 to 1.8%.
Enbridge Inc. (ENB.TO) gained about 0.5%. The company said it expects full-year 2020 distributable cash flow (DCF) per share to be near the mid-point of the C$4.50 to C$4.80 guidance range. For 2021, the company expects DCF per share of C$4.70 to C$5.00. Enbridge also re-affirmed its 5-7% average long-term annual distributable cash flow per share growth outlook.
Canadian Natural Resources (CNQ.TO), CargoJet (CJT.TO), Kinaxis Inc. (KXS.TO), Docebo Inc. (DCBO.TO), Magna International (MG.TO), Lightspeed Pos (LSPD.TO) and CAE Inc. (CAE.TO) ended notably lower.
On the vaccine front, the UK has started administering the first doses of the Pfizer/BioNTech vaccine. People over the age of 80, frontline healthcare workers and care home staff and residents have been given top priority to get the vaccine.
For comments and feedback contact: editorial@rttnews.com
