The Canadian market ended on a positive note on Monday, led by gains in energy and healthcare stocks, even as the mood remained somewhat cautious with investors continuing to keep an eye on developments surrounding debt-laden China Evergrande.
Energy stocks moved up sharply as crude oil prices climbed higher for a fifth straight day. Cannabis shares were in demand amid rising prospects for full-scale marijuana legalization in Washington, while financial shares moved up as bond yields rose.
The benchmark S&P/TSX Composite Index ended with a gain of 60.76 points or 0.3% at 20,463.42, after scaling a low of 20,428.19 and a high of 20,503.83.
Among energy shares, Enerplus Corp (ERF.TO) and Crescent Point Energy (CPG.TO) both soared more than 10%. MEG Energy (MEG.TO) gained 7.6%, Whitecap Resources (WCP.TO) climbed 7.1% and Vermilion Energy (VET.TO) gained 6%.
Aurora Cannabis (ACB.TO) gained more than 7%. Canopy Growth Corp (WEED.TO) rallied 5.6% and Tilray Inc (TLRY.TO) gained 4.1%. Cronos Group (CRON.TO) and Organigram Holdings (OGI.TO) gained 3.2% and 2.3%, respectively.
Canada Goose Holdings (GOOS.TO) gained 3.2%, Magna International (MG.TO) and Linamar Corp (LNR.TO) both ended stronger by about 1.5%.
CDN Western Bank (CWB.TO), Manulife Financial (MFC.TO), Laurentian Bank (LB.TO), National Bank of Canada (NA.TO), Toronto-Dominion Bank (TD.TO), Sun Life Financial (SLF.TO) and Bank of Nova Scotia (BNS.TO) gained 1 to 2.6%.
Methanex Corp (MX.TO), Ero Copper Corp (ERO.TO), Hudbay Minerals (HBM.TO), Labrador Iron Ore (LIF.TO), Kirkland Lake Gold (KL.TO) and Lithium Americas Corp (LAC.TO) gained 3 to 6%.
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