Canadian Market Up Firmly In Positive Territory

RTTNews | 119 days ago

(RTTNews) - The Canadian market remains firmly up in positive territory Thursday afternoon, with stocks from across several sectors positing strong gains. Optimism surrounding the Beijing Summit and enthusiasm for AI and technology contribute to the positive mood in the market.

Investors are also digesting a slew of corporate earnings reports and the latest batch of economic data.

The benchmark S&P/TSX Composite Index was up 259.02 points or 0.76% at 34,300.45 a little while ago.

Mattr Corp. soared 21%. TFI International and Brookfield moved up 7.5% and 7.2%, respectively. Quebecor, Boyd Services, Superior Plus and Birchcliff Energy gained 5%-6%.

Constellation Software, Dorel Industries, CCL Industries, Spin Master, BRP and Bausch Health Companies climbed 3%-4.5%.

Keyera moved up nearly 3% despite reporting a quarterly loss.

Northland Power is down more than 3%. The company reported earnings per share of $0.33 for the first quarter of the current financial year, compared with $0.25 in the year-ago quarter. In the fourth quarter of the previous financial year, the company had reported earnings per share of $0.93.

Hydro One reported earnings per share of $0.65 in the first quarter, up slightly compared with $0.60 a year ago. The stock is modestly higher.

In economic news, data from Statistics Canada showed wholesale sales in Canada rose 1.9% month-over-month to C$89.0 billion in March, above forecasts of a 1.3% increase and following a 2% gain in February.

A separate data from Statistics Canada showed that 176,500 new motor vehicles were sold in March, down 6.6% from March 2025. Over the same period, the number of new passenger cars sold fell by 4.3%, while the number of new trucks sold saw a decline of 6.9%.

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