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    CLS   CA15101Q1081

CELESTICA INC.

(CLS)
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Celestica : TSX notches biggest gain in two months as China jitters ebb

09/22/2021 | 04:40pm EDT

(New throughout, updates prices, market activity and comments)

* TSX ends up 0.8%

* Posts its biggest gain since July 21

* Energy sector gains 3.9%; financials end 0.7% higher

* Celestica Inc shares jump 17.3%

TORONTO, Sept 22 (Reuters) - Canada's main stock index on Wednesday climbed by the most in two months as higher oil prices and reduced market concerns around property developer China Evergrande offset a hawkish signal from the U.S. Federal Reserve.

The Toronto Stock Exchange's S&P/TSX composite index ended up 157.20 points, or 0.8%, at 20,401.49, its biggest gain since July 21.

A cash injection from the People's Bank of China helped boost investor sentiment after worries about the potential collapse of China Evergrande weighed on global financial markets in recent days.

"Now with People's Bank of China stepping in to support China's financial system, commodities are bouncing back and that's a positive for Canadian markets," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

U.S. crude futures settled 2.5% higher at $72.23 a barrel, while the Toronto stock market's energy sector ended up 3.9%.

The heavily-weighted financial services sector climbed 0.7% and consumer discretionary was up 1.4%.

Shares of electronics company Celestica Inc jumped 17.3% as the company updated its earnings guidance.

Still, the TSX is headed for its first monthly decline since January amid concerns over slowing global growth and a potential reduction of stimulus by the Fed.

The U.S. central bank on Wednesday cleared the way to reduce its monthly bond purchases "soon" and signaled interest rate increases may follow more quickly than expected. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by David Gregorio)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CELESTICA INC. -0.77% 11.54 Delayed Quote.12.37%
CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED 4.63% 3.84 End-of-day quote.-87.28%
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Analyst Recommendations on CELESTICA INC.
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Financials (USD)
Sales 2021 5 635 M - -
Net income 2021 101 M - -
Net Debt 2021 423 M - -
P/E ratio 2021 12,0x
Yield 2021 -
Capitalization 1 163 M 1 163 M -
EV / Sales 2021 0,28x
EV / Sales 2022 0,24x
Nbr of Employees 18 226
Free-Float 83,5%
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Technical analysis trends CELESTICA INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 9,32 $
Average target price 11,04 $
Spread / Average Target 18,4%
EPS Revisions
Managers and Directors
Robert A. Mionis President, CEO & Non-Independent Director
Mandeep Chawla Chief Financial Officer
Michael M. Wilson Chairman
Todd C. Cooper Chief Operations Officer
Eamon J. Ryan Independent Director
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