Economy

Toronto Stock Exchange falls as lower oil prices weigh on energy shares

Published

3 years ago

July 6, 2021

Toronto Stock Exchange reversed course to inch lower on Tuesday, as a drop in energy shares on weaker oil prices offset gains in miners.

* The energy sector fell 3.2%, with Cenovus Energy Inc and Crescent Point Energy Corp leading the declines with a drop of 5.3% and 3.7%, respectively. [O/R]

* Oil prices fell more than a percent, having hit multi-year highs earlier in the session after OPEC+ producers clashed over plans to raise supply to meet rising global demand.

* At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 50 points, or 0.25%, at 20,231.46.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.5% as gold futures rose 1.4% to $1,808 an ounce. [GOL/]

* The largest percentage gainers on the TSX were gold miners Centerra Gold Inc and NovaGold Resources Inc, rising 4.2% and 3.9%, respectively.

* Official data from Toronto Regional Real Estate Board showed that home sales across Toronto inched down in June from the prior month as market activity continued to ease from the record levels reached in March.

* The financials sector slipped 0.4%. The industrials sector was unchanged.

* On the TSX, 80 issues were higher, while 143 issues declined for a 1.79-to-1 ratio to the downside, with 18.29 million shares traded.

* The most heavily traded shares by volume were Bank of Nova Scotia <BNS.TO>, Toronto-Dominion Bank <TD.TO>, and Bombardier Inc <BBDb.TO>.

* The TSX posted five new 52-week highs and no new lows.

* Across all Canadian issues there were 53 new 52-week highs and six new lows, with total volume of 36.57 million shares.

(Reporting by Amal S in Bengaluru; Editing by Aditya Soni)

Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

4 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

Source link