(RTTNews) - The Canadian market recorded a new closing high Thursday with energy stocks contributing significantly to the rise. The volume of business was thin due to Thanksgiving holiday in the U.S.
The benchmark S&P/TSX Composite Index posted a new all-time high of 25,593.47 and closed up 55.22 points or 0.22% at 25,543.52.
Energy stocks Ces Energy Solutions (CEU.TO), Veren Inc (VRN.TO), Arc Resources (ARX.TO), Imperial Oil (IMO.TO) and Canadian Natural Resources (CNQ.TO) gained 1 to 1.4%. Parex Resources (PXT.TO) gained nearly 1%.
Dye & Durham (DND.TO), ATS Corporation (ATS.TO), Morguard Corporation (MRC.TO) and Rogers Communications (RCI.A.TO) climbed 2.3 to 4%.
Celestica Inc (CLS.TO), Parkland Corporation (PKI.TO), TFI International (TFII.TO), Bombardier Inc (BBD.B.TO), goeasy (GSY.TO), Cameco Corporation (CCO.TO), Dayforce (DAY.TO) and GFL Environmental (GFL.TO) also closed notably higher.
Data from Statistics Canada showed that average weekly earnings of non-farm payroll employees in Canada rose by 5.2% year-on-year to $1,280.3 in September 2024, the largest increase since March 2021, following a 4.9% increase in August.
Another report from Statistics Canada said Canada's current account deficit narrowed to C$ 3.2 billion in the third quarter, down from an upwardly revised C$ 4.7 billion in the second-quarter.
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