Canada Stocks: Earnings boost helps lift TSX for third straight day

North West

13/09/2023 21:26

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      TSX ends up 0.3% at 20,278.94
    

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      Dollarama lifts consumer discretionary index
    

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      North West Company Inc climbs 14.7%
    

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      Energy falls 0.7%; oil settles 0.4% lower
    

  
 (Updates at market close)
    By Khushi Singh and Fergal Smith
       Sept 13 (Reuters) - Canada's main stock index rose on
Wednesday for a third straight day, led by gains for
consumer-related stocks and as U.S. inflation data supported
bets that the Federal Reserve would pause its interest rate
hikes this month.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended up 55.86 points, or 0.3%, at 20,278.94, adding
to its gains on Monday and Tuesday.
    Stocks on Wall Street ended mixed as data showing a moderate
increase in consumer prices in August cemented expectations that
the Fed would move to the sidelines.     
    The Toronto market's consumer staples sector rose 1.2% and
consumer discretionary was up 0.6%. It was helped by a gain of
5.9% for Dollarama after the discount retailer beat quarterly
sales estimates.
     Food and general products retailer, North West Company Inc
 NWC.TO  posted strong second-quarter results. Its shares rose
14.7%.
    Heavily-weighted financials also gained ground, rising 0.7%.
But energy gave back some recent gains, ending down 0.8%, as oil
 CLc1  settled 0.4% lower at $88.52 a barrel.

 (Reporting by Fergal Smith in Toronto and Khushi Singh in
Bengaluru, Editing by Tasim Zahid)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446;))