TSX Ends Higher For 2nd Straight Day

(RTTNews) - The Canadian market closed higher on Friday, extending gains from the previous session, with technology stocks turning in another good performance. Materials and financials shares contributed as well to the positive close.

In addition to positive global cues, some impressive earnings updates helped underpin sentiment.

The benchmark S&P/TSX Composite Index ended up 95.07 points or 0.45% at 21,413.15, after scaling a low of 21,274.41 and a high of 21,440.41 intraday. The index gained about 0.75% in the holiday shortened week.

Technology stock Docebo Inc (DCBO.TO) soared 17.1%. The company reported fourth-quarter net income of $3.2 million, or $0.10 per share, compared to net income of $1.6 million, or $0.05 per share in the year-ago quarter.

Converge Technology Solutions (CTS.TO), Lightspeed Commerce (LSPD.TO) and Kinaxis Inc (KXS.TO) gained 4.5%, 4.1% and 3.75%, respectively.

In the materials sector, Lundin Gold (LUG.TO) climbed 7.5% after reporting fourth quarter 2023 net income of $11.06 million, as against a net loss of $68.3 million in the year-ago quarter.

Ssr Mining Inc (SSRM.TO) gained nearly 7%. Hudbay Minerals (HBM.TO) advanced 4.75%.

Alamos Gold (AGI.TO), Filo Mining (FIL.TO), First Majestic Silver Corp (FR.TO), Agnico Eagle Mines (AEM.TO), Ivanhoe Mines (IVN.TO) and Lithium Americas Argentina Corp (LAAC.TO) gained 2.8 to 4.1%.

Among financials shares, Nuvei Corp (NVEI.TO) surged 6.5%. EQB Inc (EQB.TO) and Fairfax Financial Holdings (FFH.TO) climbed 3.3% and 3%, respectively. Goeasy (GSY.TO) gained 1.4% and Sprott Inc (SII.TO) advanced 1.3%.

RB Global Inc (RBA.TO) zoomed 12.3%. CCL Industries (CCL.A.TO) gained 3.8%, and CGI Inc (GIB.A.TO) climbed 2%.

TransAlta Corp (TA.TO) rallied 5.2%. The company reported net loss of $84 million in the fourth quarter of 2023, significantly down from a net loss of $163 million a year ago.