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TSX rises on energy, financial boost amid easing Omicron worries

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3 years ago

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Canada’s main stock index hit more than a one-month high in thin trading on Wednesday, helped by energy and financial shares, while easing worries over the impact of the Omicron coronavirus variant also boosted sentiment.

At 9:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 88.87 points, or 0.42%, at 21,318.55, its highest since Nov. 26. The index rose for a fifth straight session.

“Canada’s been closed for two days and the U.S. has been open, so there is a little bit to catch up here,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

“It’s not unusual for this week to be relatively quiet because most people are away on holiday.”

The energy sector climbed 1.5% as oil prices edged towards $80 per barrel on the back of global supply outages and declining U.S. inventories. [O/R]

Early studies showing the Omicron variant has a lower risk of hospitalization than the Delta have helped traders look past the business disruptions caused by the recent surge in cases.

The financials sector gained 1.2%, while the industrials sector rose 0.6%.

The benchmark equity index has gained 22% so far this year on hope of an economic recovery and is on track for its best year since 2009.

Limiting further gains were healthcare stocks that fell 4.4%. Major pot producers Cronos Group, Tilray, Canopy Growth Corp were down over 8% each.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.1% as gold futures fell 1.0% to $1,792.5 an ounce. [GOL/]

HIGHLIGHTS

The TSX posted 16 new 52-week highs and two new lows.

Across all Canadian issues, there were 122 new 52-week highs and 18 new lows, with a total volume of 43.42 million shares.

 

(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

5 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

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

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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1 week ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

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

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

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

The Canadian Press. All rights reserved.

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