(Adds investor quotes and details throughout; updates prices)
* TSX ends at 64.75 points, or 0.3%, at 21,613.18
* Nine of TSX’s 11 main groups are rising
* Technology wins 0.7%; financial items end up 0.4% higher
* Materials lose 0.2%
By Fergal Smith
TORONTO, Nov. 25 (Reuters) – Canada’s main stock index rose on Thursday in a lighter-than-normal trade as heavily weighted financial and technology stocks contributed to broad-based gains.
The Toronto Stock Exchange’s S & P / TSX composite index ended at 64.75 points, or 0.3%, at 21,613.18, adding gains Tuesday and Wednesday.
With US markets closed for Thanksgiving, trading volume was the lightest since July 5th.
“We still believe we’re in a secular bull market,” said Irwin Michael, a portfolio manager at ABC Funds. “Economic growth continues. We do not see a recession at this time.”
Canadian wage employment rose 91,100 in September, the fourth consecutive monthly increase, data from Statistics Canada showed.
The benchmark Canadian stock index, which hit record highs this month, ran out of steam last week, damaged by weaker commodities and the resurgence of COVID-19 cases in Europe that threaten to slow the global economic recovery.
Nevertheless, the index has risen 24% since the beginning of the year, which is almost equal to the increases for the S&P 500.
“Those investors who have missed a big rally, they might want to dress out the window,” Michael said, referring to the practice of buying winning stocks and selling losing stocks ahead of a reporting period, such as year-end closing.
Nine of the 11 major sectors on TSX were higher on Thursday, including a gain of 0.7% for technology and a 0.4% gain for finance. Together, economics and technology account for about 46% of the value of the Toronto market.
Energy rose 0.2% despite a drop in crude oil prices as investors watched as major producers react to the US-led emergency oil release designed to cool the market.
The materials group, which includes precious and base metals and fertilizer companies, lost 0.2 per cent. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; editing by Jonathan Oatis)