Economy

TSX gains on energy boost; Bank Of Canada holds rates

Published

4 years ago

March 10, 2021

(Reuters) – Energy companies led gains on Canada‘s main stock index on Wednesday, boosted by higher oil prices, as the Bank of Canada held borrowing costs steady at its interest rate meeting.

* The Bank of Canada said it now expects positive GDP growth in the first quarter of 2021, rather than the contraction it forecast in January.

* At 10:54 a.m. ET (15:54 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 53.11 points, or 0.29%, at 18,652.3. The index hit a record high in the previous session.

* The energy sector climbed 1.7% as crude prices were supported by an upbeat forecast for global economic recovery and OPEC+ oil output curbs as well as a sharp reduction in U.S. fuel inventories.[O/R]

* The largest percentage gainers on the TSX were oil producer Vermilion Energy Inc, which jumped 9%, and food retailer Empire Company Limited, which rose 8.1%.

* On the TSX, 125 issues were higher, while 88 issues declined for a 1.42-to-1 ratio favouring gainers, with 69.71 million shares traded.

* E-commerce platform Shopify Inc fell 3.2%, the most on the TSX, and the second biggest decliner was miner MAG Silver Corp, down 3.2%.

* The most heavily traded shares by volume were Hydro One Ltd, Rogers Communications Inc, and Trican Well Service Ltd.

* The TSX posted 19 new 52-week highs and no new low.

* Across all Canadian issues there were 127 new 52-week highs and three new lows, with total volume of 152.39 million shares.

(Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber and Amy Caren Daniel)

Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

19 hours ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

1 day ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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