TSX Pares Some Gains After Hitting New High; Celestica Rises On Strong Results

(RTTNews) - The Canadian market is up in positive territory a little past noon on Tuesday, supported by gains in technology, real estate, healthcare and consumer staples sectors.

In addition to following the developments on the trade front, investors are also looking ahead to the monetary policy announcements from the Bank of Canada and the Federal Reserve.

The Canadian central bank is likely to keep interest rates unchanged at 2.75% for the third time, as firm core inflation and robust job growth lessen the urgency to ease rates.

On the trade front, talks between Canada and the United States are at an intense phase, Prime Minister Mark Carney told reporters on Monday, reiterating that an agreement without any tariffs at all was unlikely.

"The negotiations are at an intense phase. It's a complex negotiation ... we will only sign a deal that's the right deal," Carney said.

The benchmark S&P/TSX Composite Index, which climbed to a new record high of 27,544.57 earlier in the session, was up 55.45 points or 0.2% at 27,460.87 about a quarter past noon.

The Information Technology Index is up 2.3%. Celestica is soaring nearly 18%. The company reported second-quarter revenue of $2.89 billion, up 21% compared to $2.39 billion for second quarter of 2024.

Quarterhill is gaining 4.8%, while Descartes Systems Group, Coveo Solutions and Constellation Software are up with modest gains.

Real estate stock Colliers International Group is gaining 5.4%. Crombie Real Estate is up 2.5%, while CT Real Estate, First Capital REIT Units, Choice Properties and Riocan Real Estate are up 1.5 to 1.8%.

Healthcare stocks Chartwell Retirement Residences and Sienna Senior Living are up 3.2% and 1.7%, respectively.

Consumer staples stock George Weston is gaining 2.3%. The company reported EPS of $3.06 for the second-quarter, up from $2.93 per share in the year-ago quarter.

Loblaw, Maple Leaf Foods and Metro Inc. are up 2%, 1.7% and 1.3%, respectively. Empire Company Ltd shares are up nearly 1%.

TFI International (TFI.TO) reported second-quarter EPS of $1.34, compared to $1.71 a year ago. Despite a drop in earnings, the stock is up 3.7%.