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TSX Recovers, in Sync with U.S. Indices

Tecsys, SNC in Focus

Equities in Canada’s largest centre were pointed upward Thursday, pulled that way by tech and energy stocks.

The TSX progressed 77.43 points to answer the closing bell Thursday at 20,337.21

The Canadian dollar slid 0.15 cents to 73.56 cents U.S.

The champions were in tech Thursday, as Tecsys rolled higher $2.13, or 7.9%, to $28.99, while Kinaxis leaped $9.10, or 5.7%, to $168.12.

Energy stocks were also strong, with Athabasca Oil towering 14 cents, or 4.7%, to $3.14, Freehold Royalties adding 50 cents, or 3.2%, to $16.20.

In industrials, Canadian National Railways popped $3.19, or 2%, to $160.40, while SNC Lavalin leaped 63 cents, or 2.2%, to $29.02.

Health-care stocks faltered, though, with Bellus Health handing back 26 cents, or 2.5%, to $10.36, while Cronos Group shed four cents, or 1.4%, to $2.86.

Communications ducked, with Rogers off 88 cents, or 1.4%, to $63.84, while Cogeco Communications plunged 86 cents, or 1.3%, to $67.73.

In consumer staples, Jamieson Wellness tailed off 83 cents, or 2.6%, to $31.54, while George Weston flopped $3.95, or 2.3%, to $168.50.


The TSX Venture Exchange dipped 2.68 points to 632.01.

The 12 TSX subgroups were evenly divided, with information technology muscling up 1.2%, while energy and industrial concerns each gathered 1.1%.

The half-dozen laggards were weighed most by communications, sliding 0.9%, health-care, off 0.6%, and consumer staples, fizzling 0.4%.


Stocks rose Thursday in an afternoon rally as traders tried to shake off concerns over higher interest rates.

The Dow Jones Industrials hiked 343.28 points, or 1.1%, to finish off Thursday at 33,005.12,

The S&P 500 gained 30.15 points to 3,981.54.

The NASDAQ Composite tacked 83.5 points to 11,462.98.

All of the major averages are now on track for a winning week, with the Dow set to snap a four-week losing streak.

In corporate earnings, Salesforce and Okta shares jumped in on strong results and guidance. Silvergate Capital, meanwhile, shares plunged more than 40%, after the company delayed its 10-K annual report.

Tesla shares, popular with retail investors, lost 5% after the company failed to unveil details of any next-generation vehicles during its much-anticipated investor day Wednesday. The decline put pressure on the S&P and NASDAQ

A surge in labour costs and a pullback in jobless claims reported early Thursday point to the likelihood that the Fed will raise its benchmark interest rate another 0.25 percentage point later this month.

Prices for the 10-year Treasury slipped, raising yields to 4.07% from Wednesday’s 4%. Treasury prices and yields move in opposite directions.

Oil prices took on 30 cents to $77.959 U.S. a barrel.

Gold prices dropped $1.90 to $1,843.50 U.S. an ounce.