Canadian Market Looks Headed For Another Positive Close

(RTTNews) - The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.

Investors are awaiting crucial Canadian and U.S. jobs data, due out on Friday, for clues about the interest rate decisions of the Bank of Canada and the Federal Reserve later in the month.

The benchmark S&P/TSX Composite Index was up 145.54 points or 0.51% at 28,896.90 a few minutes ago. The index touched a new record high of 28,910.01 today.

Descartes Systems Group, up 6.5%, is the top gainer in the technology sector. Computer Modelling and Shopify are up 4% an 3.9%, respectively. Celestica is climbing up 3.2%.

Consumer discretionary stocks Gildan Activewear and Linamar Corp are up 3.5% and 2%, respectively.

Real estate stocks Colliers International Group and FirstService Corp are up 2.3% and 1.4%, respectively. Allied Properties Real Estate Investment Trust is up 1%.

Quebecor tops the list of gainers in the Communications Capped Index, rising more than 3%. Cogeco Communications is up nearly 1%.

In the financials sector, Brookfield Corporation, Onex Corp, DeFinity Financial Corporation, Igm Financial Inc., Manulife Financial and Laurentian Bank are gaining 1.2 to 2%.

In economic news, data from S&P Global showed the S&P Global Canada Composite PMI recorded 48.4 in August 2025, down from 48.7 in July, the second best so far this year, although still marking the ninth consecutive monthly contraction in private-sector activity.

The manufacturing PMI reading came in at 48.3 for the month, up from 46.1 in July, while the services PMI score was 48.6 in August, dropping from 49.3 a month earlier.

Data from Statistics Canada showed Canada posted a trade deficit of C$4.9 billion in July, narrowing from a revised C$6.0 billion shortfall in June. It was the smallest trade gap in four months, as exports rose 0.9% to a four-month high of C$61.9 billion, the third consecutive monthly increase. Meanwhile, imports were down 0.7% to C$66.8 billion.