Canada’s main index climbed on Thursday, driven by materials-linked stocks, while investors keenly monitored another day of Federal Reserve Chair Jerome Powell’s congressional testimony.
The TSX Composite remained positive 135.03 points to 21,725.99.
The Canadian dollar advanced 0.25 cents at 74.25 cents U.S.
Information technology stocks also rose 1.1%, led by a rise of $6.72, or 5.7%, in Descartes Systems to $124.62, after the software company beat fourth-quarter revenue estimates.
Company-wise, manufacturing firm Linamar popped $7.50 or 11.8%, to the top of the TSX after its fourth-quarter results, at $71.05.
On the economic front, Statistics Canada reported that in January, Canada’s merchandise imports decreased 3.8%, while exports fell 1.7%. As a result, Canada’s merchandise trade balance changed position for a second consecutive…
