By Fergal Smith
(Reuters) -Canada’s main stock index rallied on Thursday, adding to its monthly gain, as investors cheered results from Canadian Natural Resources and the major banks as well as domestic data showing stronger-than-expected economic growth.
Toronto Stock Exchange’s S&P/TSX composite index ended up 119.84 points, or 0.6%, at 21,363.61.
For the month, it was up 1.6%, its fourth straight monthly gain. That’s the longest monthly winning streak since 2021.
“Today’s all about CNQ,” said Barry Schwartz, portfolio manager at Baskin Financial Services. “The company has become a dividend king.”
Shares of Canadian Natural Resources jumped 5.1% after the company beat estimates for fourth-quarter profit on record production, and raised its quarterly dividend by 5%.
The energy sector rose 1.9%, while heavily weighted financials added 0.7% after TD Bank and Canadian Imperial Bank of Commerce reported better than expected earnings….
