Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
(RTTNews) - Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.
A few stocks from consumer staples, consumer discretionary and financials sectors are also up with notable gains.
The benchmark S&P/TSX Composite Index was up 131.35 points or 0.46% at 28,566.15 a little while ago.
Corus Entertainment is up more than 11%. Seabridge Gold, NovaGold Resources, Equinox Gold, NexGen Energy, Silvercorp Metals, SSR Mining, Centerra Gold, Ivanhoe Mines, Iamgold Corp, Torex Gold Resources and Bausch Health Companies are up 3 to 5.6%.
BRP Inc. is gaining about 9%. BRP reported net income of $57.1 million for the second quarter of 2025, up 36% compared to the $42.0 million it had posted in the year-ago quarter.
Among the losers, Laurentian Bank is down more than 4%. The bank reported net income of $37.5 million and diluted earnings per share of $0.73 for the third quarter of 2025, compared with net income of $34.1 million and diluted earnings per share of $0.67 for the third quarter of 2024.
Celestica is tanking nearly 9%. Canopy Growth, Tilray and Aurora Cannabis are down 4 to 6%. Quebecor, Ballard Power Systems, TransAlta, Brookfield Renewable, Computer Modelling, Cameco and Canada Goose Holdings are also down sharply.
The Canadian GDP contracted by 1.6% on a seasonally adjusted, annualized rate in the second quarter of 2025, reversing from the 2% growth rate in the previous period and missing market expectations of a 0.6% contraction.
Canada's real GDP edged up 0.1% month-on-month in July, according to preliminary estimates. In June, GDP fell 0.1%, marking the third straight monthly decline.
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