The Canadian stock market concluded Monday's session on a strong trajectory, primarily bolstered by the strength in energy and materials sectors, as rising commodity prices were influenced by mounting tensions in the Russia-Ukraine conflict.
The S&P/TSX Composite Index peaked at 25,082.87, ultimately closing with an ascent of 86.26 points, marking a 0.35% increase to settle at 24,976.94.
In sector-specific performances, the Materials Capped Index surged by 2.84%, while the Energy Capped Index saw an increase of 1%. However, stocks within the consumer staples segment experienced declines.
Noteworthy performers included Pan American Silver Corp, which saw a significant rally of 5.5%. Other companies such as Endeavour Mining Plc, Lundin Gold, Torex Gold Resources, Cameco Corporation, Agnico Eagle Mines, Franco-Nevada Corporation, Wheaton Precious Metals, and Newmont Corporation experienced gains ranging from 3% to 4.5%.
Additionally, Methanex Corporation, Capital Power Corporation, Stella-Jones, Teck Resources, Bank of Nova Scotia, Sprott Inc, TerraVest Industries, Bombardier Inc, GFL Environmental, Celestica Inc, Restaurant Brands International, and CGI Inc ended the day with increases from 1.5% to 3%.
Conversely, Mattr Corp, Boralex Inc., Shopify Inc, Open Text Corporation, Quebecor Inc, Loblaw Companies, Nutrien, George Weston, Onex Corporation, and Linamar Corporation were among the notable decliners.
On the economic data front, the Canada Mortgage & Housing Corporation reported a 7.8% month-over-month increase in housing starts, reaching 240,761 units in October, which is the highest figure recorded in three months.
