TSX Ends Higher Again

(RTTNews) - The Canadian stock market ended on a positive note on Monday after trading firm right through the session, led largely by gains in healthcare and information technology sections.

However, the mood remained cautious about the surge in coronavirus cases in India and Japan and its likely impact on the pace of global economic rebound.

The benchmark S&P/TSX Composite Index ended with a gain of 68.23 points or 0.23% at 19,170.56. The index touched a low of 19,104.90 and a high of 19,186.75 in the session. The index ended 0.37% up on Friday.

The Capped Healthcare Index climbed nearly 2%. Aurinia Pharmaceuticals (AUP.TO) gained 4.4%. Aphria Inc (APHA.TO), Bausch Health Companies (BHC.TO), Trillium Therapeutics (TRIL.TO), Aurora Cannabis (ACB.TO) and Organigram Holdings (OGI.TO) gained 1.5 to 4%, while Cronos Group (CRON.TO) advanced 1.2%.

In the technology space, Hut 8 Mining Corp (HUT.TO) soared nearly 15%. Dye & Durham (DND.TO) climbed 7.7%, Shopify Inc (SHOP.TO) gained nearly 5% and Kinaxis Inc (KXS.TO) moved up 2.5%. Absolute Software (ABST.TO), BlackBerry (BB.TO), Lightspeed Pos (LSPD.TO) and Celestica (CLS.TO) advanced 1 to 2%.

Canadian Pacific Railway Limited (CP.TO) welcomed the Surface Transportation Board (STB) decision to uphold waiver for a merger between Canadian Pacific Railway and Kansas City Southern. CP is seeking approval from the STB for the merger with KCS. The STB review is expected to be completed by the middle of 2022. Canadian Pacific Railway shares declined by about 0.4%.

Fortuna Silver Mines Inc. (FVI.TO) declined by nearly 18% after the company and Roxgold Inc. (ROXG.TO) entered into a definitive agreement under which Fortuna will acquire all the issued and outstanding securities of Roxgold, in a deal worth approximately C$1.1 billion. Roxgold shareholders will receive 0.283 common shares of Fortuna and C$0.001 for each Roxgold common share held. Roxgold shares gained more than 15%.

The U.S. market ended higher amid optimism about strong earnings from big name technology companies. The tech-heavy Nasdaq and the S&P 500 closed in positive territory, and at record high. The Dow closed slightly lower.

Stock markets across the Asia-Pacific region turned in a mixed performance on Monday, while the major European markets moved higher.