By Robb M. Stewart
Stocks in Toronto continued their upward trajectory for the fourth consecutive day, mirroring gains in the U.S. markets. Positive economic data indicates that American consumers are maintaining a strong position.
In Thursday’s trading session, technology and finance stocks led the way with broad gains. Additionally, mining and energy shares saw an uptick due to stronger commodity prices.
The S&P/TSX Composite Index climbed 1% to reach 20486.04, while the blue-chip S&P/TSX 60 advanced 1.1% to 1230.27.
Bank of Montreal saw a 1.2% increase, while Toronto-Dominion Bank registered a 1.3% gain, alongside other major banks’ advancements.
Within the resources sector, Barrick Gold rose 1%, and Enbridge experienced a 1.8% increase.
Here are the other notable market movers:
Empire’s shares surged by 2.2% to C$36.05 after reporting stronger-than-expected earnings for the latest quarter. The retailer and real-estate investor benefited from increased food sales and gains from its exit from gas stations in western Canada.
Dye & Durham, a legal practice management software company, witnessed a 17% decline to C$16.87 as underlying earnings fell short of expectations for the latest quarter.
Laurentian Bank of Canada saw its shares drop by 11% to trade at C$31.82 after announcing that it would not pursue a sale. Instead, the bank stated it would expedite its current strategic plan.
Contact Robb M. Stewart at robb.stewartwsj.com