Canadian Market Up Firmly As Traders React To Jobs Data, Earnings

(RTTNews) - The Canadian market gained modest ground in positive territory Friday morning, supported by gains in healthcare, technology, energy and materials sectors. Shares from other sectors turned in a mixed performance.

Stronger-than-expected U.S. non-farm payroll data aided sentiment. Strong gains posted by big-name U.S. tech stocks contributed as well to the positive mood in the market.

In addition to digesting jobs data from Canada and the U.S., investors also tracked a slew of corporate earnings announcements.

The benchmark S&P/TSX Composite Index was up 244.22 points or 0.67% at 35,849.49 a few minutes before noon.

Data from Statistics Canada showed the Canadian economy shed 4,700 jobs in October, after a steep 68,300 decline in September. The unemployment rate in Canada increased to 6.7%.

A closely watched report released by the Labor Department showed non-farm payroll employment jumped by 165,000 jobs in October after rising by an upwardly revised 60,000 jobs in September. Economists had expected employment to climb by 62,000 jobs compared to the increase of 29,000 jobs originally reported for the previous month.

The report also said the unemployment rate edged down to 4.1% in October from 4.2% in September. The unemployment rate was expected to remain unchanged.

Ensign Energy Services soared 7.5%. The company reported third-quarter net income of C$10.84 million, or C$0.06 per share, as against a loss of C$3.26 million, or C$0.02 per share, a year earlier.

BlackBerry, Shopify, Brookfield Infrastructure Partners, Quebecor, North West Company, Enerflex, Precision Drilling Corporation, Cineplex, Chartwell Retirement Residences, Ero Copper and Lundin Mining gained 2.5%-4%.

Saputo gained 3.75% after reporting earnings per share of $0.55 for the third-quarter, compared with $0.48 a year earlier.

Iamgold moved up 3.3% after saying its EPS for the third-quarter came in at $0.42, compared with $0.30 in the year-ago quarter.

IGM Financial rallied 2.75%. The company reported earnings per share of $1.51 in the third quarter of 2026, up from $1.27 a year ago.

Wheaton Precious Metals climbed 1.5%. The company reported earnings per share of $0.90 for the third quarter of 2026, compared with $0.62 a year ago.

Martinrea International, Real Matters, B2Gold, Kinross, Canada Goose Holdings, Methanex, Ballard Power Systems, Air Canada, Cameco, Premium Brands International and Element Financial also moved notably higher.

Parex Resources tanked 15.2% after third-quarter EPS fell short of expectations, coming in at $0.78, as against expected EPS of $1.08.

Interfor plunged 12% after reporting a net loss in the third quarter.

Cascades tumbled 5.7% after reporting third quarter earnings per share of $0.33, down from $0.38 a year earlier.

Badger Infrastructure Solutions, Canfor, Western Forest Products, Lightspeed Commerce, Thomson Reuters, WSP Global and West Fraser Timber also declined sharply.