TSX Ends Higher For 3rd Straight Day

(RTTNews) - The Canadian market ended modestly higher on Wednesday after staying positive right through the day's session.

Several stocks from consumer staples, utilities, industrials, financials and consumer discretionary sectors posted strong gains.

The benchmark S&P/TSX Composite Index ended with a gain of 55.86 points or 0.28% at 20,278.94, rising for a third straight session.

North West Company Inc (NWC.TO) shares soared nearly 15%. Dollarama Inc (DOL.TO) climbed almost 6% after reporting a sharp jump in quarterly earnings.

Stella-Jones (SJ.TO), Metro Inc (MRU.TO), Rogers Communications (RCI.B.TO), Cameco Corporation (CCO.TO), Canadian National Railway Corporation (CNR.TO), Waste Connections (WCN.TO), Bank of Montreal (BMO.TO), Toromont Industries (TIH.TO), George Weston (WN.TO) and Restaurant Brands International (QSR.TO) gained 1 to 3%.

Tecsys Inc (TCS.TO) ended nearly 6% down. Parex Resources (PXT.TO), Magna International (MG.TO), Celestica Inc (CLS.TO), Colliers International (CIGI.TO), Linamar Corporation (LNR.TO), Mty Food Group Inc (MTY.TO), goeasy (GSY.TO) and CCL Industries (CCL.B.TO) lost 2 to 4.4%.

Data from the Labor Department showed the consumer price index climbed by 0.6% in August after inching up by 0.2% in July. The price growth matched expectations.

Excluding food and energy prices, core consumer prices rose by 0.3% in August after edging up by 0.2% in July. Economists had expected another 0.2% uptick.

The Labor Department also said the annual rate of consumer price growth accelerated to 3.7% in August from 3.2% in July. The annual rate of growth was expected to accelerate to 3.6%.

Meanwhile, the report said the annual rate of growth by core consumer prices slowed to 4.3% in August from 4.7% in July, in line with economist estimates.