Robust U.S. manufacturing data, signs of easing consumer inflation, and upbeat corporate earnings helped Canadian stocks maintain positive momentum for the third consecutive session on Thursday, even as crude oil prices fell sharply. The S&P/TSX Composite Index rose 57 points, or 0.2%, to settle at 24,846.
Despite negative movement in most commodity-linked stocks from the energy and materials sectors, continued strength in utilities, healthcare, and financial stocks led the TSX higher.
Top TSX Composite movers and active stocks
Shares of Richelieu Hardware (TSX:RCH) jumped by over 5% to $39.59 per share, making it the top-performing TSX stock for the day. This rally in RCH stock came after the Canadian specialty hardware company reported a 5% year-over-year increase in its November quarter sales to $476.2 million with the help of a 7.2% increase in sales to manufacturers in the U.S. and Canada.
Although lower sales prices and…
