(RTTNews) – The Canadian stock market, which opened lower on Friday and stayed weak till around noon, spent much of the day’s session thereafter in positive territory and eventually closed marginally up.
Energy, healthcare and consumer discretionary stocks were among the major gainers. Information technology and utilities shares found some support, while telecom and industrials shares were weak. Materials and financial stocks closed mixed.
The benchmark S&P/TSX Composite Index ended with a gain of 17.53 points or 0.09% at 18,854.00, after scaling a low of 18,721.74 and a high of 18,883.68 intraday.
The Capped Energy Index climbed 2.17%. Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO), Enerplus Corp (ERF.TO), Arc Resources (ARX.TO), Seven Generations Energy (VII.TO), Tourmaline Oil Corp (TOU.TO) and Vermilion Energy (VET.TO) gained 3 to 6%.
Aurora Cannabis (ACB.TO) and Aphria Inc. (APHA.TO) gained 1.7% and 1.4%, respectively. Canopy Growth (WEED.TO) surged up nearly 3%, and Trillium Therapeutics (TRIL.TO) climbed 6.3%.
Consumer discretionary stocks Linamar Corp (LNR.TO), Brp Inc (DOO.TO), Aritzia Inc (ATZ.TO), Canada Goose Holdings (GOOS.TO) and Canadian Tire Corporation (CTC.A.TO) gained 3 to 4.2%. Sleep Country Canada Holdings (ZZZ.TO) and Restaurant Brands International (QSR.TO) also ended with strong gains.
Data from Statistics Canada showed retail sales in Canada dropped 1.1% month-over-month in January. Economists had forecast a 3% decline in sales. Retail Sales were up 1.3% in January compared to the same month last year.
Retail Sales Excluding Autos in Canada decreased 1.2% month-over-month in January, less than an expected drop of 2.6%.