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TSX ends up 0.9% at 19,837.65
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Posts its highest closing level since March 9
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Dollarama climbs 2.5% on quarterly sales beat
(Adds details on activity, updates prices to close)
By Johann M Cherian and Fergal Smith
March 29 (Reuters) - Canada's main stock index rose on
Wednesday to its highest closing level in nearly three weeks,
helped by gains in energy and Dollarama shares, after the
discount store chain posted quarterly revenue above estimates.
The Toronto Stock Exchange's S&P/TSX composite index ended up 180.12 points, or 0.9%, at 19,837.65, its
fourth straight day of gains and its highest closing level since
March 9.
Dollarama Inc shares added 2.5% as the company
reported a surge in same-store sales.
"It's a great business. They operate their store count quite
well and they're very efficient with respect to their costs,"
said Mike Archibald, vice-president and portfolio manager at AGF
Investments.
The consumer discretionary sector advanced 1.3%, while
energy rose 1%, helped by recent strength in crude oil prices.
Information technology rose 1.5% as bond yields steadied.
Heavily-weighted financials gained 1%.
Canada's 2023 budget took a big step toward luring more
investment in clean technology to build a low-carbon economy,
analysts said on Wednesday, but gaps must still be filled to
make the country more competitive with the United States.
(Reporting by Johann M Cherian in Bengaluru; Editing by Maju
Samuel and Deepa Babington)
