Toronto Stocks Climb on Tech Sector Strength; Celestica Rises on 4Q Beats, Upgraded Outlook

Dow Jones

Jan 31, 2025

By Adriano Marchese

Toronto-listed stocks were sharply higher Thursday at midday thanks to broad gains across sectors. Tech was the biggest gainer of the session, rebounding from the sector-wide shock earlier in the week due to China's low-cost AI model, DeepSeek. Materials were also gainers, followed by process industries. Only health tech logged minor losses in the session.

Canada's S&P/TSX Composite Index climbed 1.4% to 25832.83 and the blue-chip S&P/TSX 60 advanced by 1.4% to 1558.07.

In step with the tech gains of the day, Celestica shares rallied, gaining 16% to reach 167.80 Canadian dollars ($116.36) after reporting better-than-expected fourth-quarter results late Wednesday as well as an upgraded outlook for 2025.

Other market movers:

Rogers Communications logged better profit and revenue than expected in the fourth quarter thanks to growth at its wireless service and media businesses. The stock rose 0.7% to C$41.73.

Franco-Nevada's shares advanced by 4.3% to C$197.30 after the gold-focused royalty company boosted its quarterly dividend 5.6%.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 30, 2025 12:03 ET (17:03 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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