Canadian equities closed modestly higher on Wednesday, with the S&P/TSX Composite finishing the session up 0.47% in Toronto. Strength in information technology, telecommunications and financial names contributed to the advance.
The session's top performer was SSR Mining Inc (TSX:SSRM), which rallied 14.65% - a rise of 5.79 points - to end the day at 45.32. The move took SSR Mining's shares to an all-time high. Cryptocurrency miner Bitfarms Ltd (TSX:BITF) was the next best performer, adding 12.87% or 0.35 points to close at 3.07. Shopify Inc (TSX:SHOP) also posted a solid gain, rising 6.05% or 10.08 points to finish at 176.75.
On the downside, George Weston Limited (TSX:WN) led decliners, slipping 3.91% or 3.87 points to close at 95.21. Professional services firm WSP Global Inc (TSX:WSP) declined 3.11% or 7.32 points to 227.68, while Badger Infrastructure Solutions Ltd (TSX:BDGI) fell 3.05% or 2.26 points to end at 71.92.
Advancers outpaced decliners on the Toronto Stock Exchange, with 547 stocks rising versus 415 falling and 74 ending the session unchanged.
Volatility as measured by the S&P/TSX 60 VIX eased, with the index of implied volatility for S&P/TSX Composite options declining 5.71% to 17.18.
Commodity markets saw gains alongside the equity advance. Gold futures for April delivery rose 0.58% - an increase of 29.96 - to trade at 5,153.66 US dollars a troy ounce. In the oil complex, April WTI crude climbed 1.96% or 1.46 to settle at 76.02 dollars a barrel, while the May Brent contract gained 1.36% or 1.11 to trade at 82.51 dollars a barrel.
Currency moves were limited in the session. The Canadian dollar versus the US dollar was unchanged 0.34% at 0.73, while the Canadian dollar versus the euro was unchanged 0.13% at 0.63. The US Dollar Index Futures was lower by 0.28% at 98.73.
Market takeaway
Wednesday's trading reflected selective strength among miners, miners-related listings and technology-related names, with SSR Mining's record-high print drawing particular attention. Broader market implied volatility declined, and energy and precious metals prices moved higher during the session.
Note on reporting - All price moves, percentages and closing levels reported reflect the official close in Toronto and the quoted futures and index levels provided for the session.