The Canadian shares were higher on Thursday before the seventh consecutive day as gloomy American banengatens renewed expectations that the Federal Reserve can lower the interest rates earlier than before. The S&P/TSX Composite Index With 165 points, or 0.6%, for the day to settle on 28,916 – the last in a series of record highs, as investors became more confident that rate lighting could be on the horizon.
Despite continuous weakness in some health care shares, strong profits in rate-sensitive sectors such as technology, real estate and consumer discretionary the TSX to another record.
Top TSX Composite Movers and Active Shares
Bird construction (TSX: BDT) Realized with more than 13% to $ 26.01 per share, making it the best-performing TSX shares for the day. This rally followed the announcement of the Etobicoke -based company that will acquire the Fraser River Pile & Dedge (FRPD) for around $ 82.3 million.
In particular, FRPD is the largest marine infrastructure in Canada, Land Foundation and Bagging Player, and Bird expects the purchase to stimulate its adapted profit per share by almost 7% throughout the year, elevator margins via self-performance form work with a higher margin and deepens the infrastructure vertically. With this, BDT shares has risen by 15% in September.
Shares of Descartes Systems (TSX: DSG) also increased by 7% after the logistics software company has posted record-finance results in July Quarter, with the total turnover that rises by 10% year after year with the help of an increase of 14% in the turnover of the services. Investors welcomed the solid profitability and the cash flow of Descartes, with its operational cash that 82%rises, which reflected resilience despite the worldwind of global trade.
Methanx And Celestics were also one of the best profit of the day at the Toronto Stock Exchange, each with at least 4.7%.
Despite the wider Marktrally, Striving silver” First majestic silver” Nexgen EnergyAnd First quantum minerals Each slid by more than 3%, making them the worst performing TSX shares of the session.
Based on their daily trade volume, Canadian natural resources” Suncor Energy” Cenovus -Energie” Manulife FinancialAnd Enbridge were the five most active shares on the stock exchange.
TSX today
The raw material prices were largely flat in the early Friday trade, pointing to a muted open for the Resource-Heavy Main TSX index today.
In addition to the data from the domestic labor market, Canadian investors will also keep a close eye on the average income of the American hour, non-farmers and unemployment rate this morning this morning.
If labor markets continue to show signs of delay on both sides of the border, this can increase hope for speed reductions and expand the record momentum of the TSX.
Market movers on the TSX today
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