TSX Ends Flat After Stocks Rally In The Final Hour

RTTNews | 829 dni temu

(RTTNews) - Despite staying weak almost the entire session on Thursday, the Canadian market ended flat with stocks rallying smartly in the final hour.

While worries about inflation and interest rates weighed on sentiment, optimism over progress in U.S. debt ceiling negotiations helped pull the market out lower levels.

The benchmark S&P/TSX Composite Index settled at 20,297.09, up 0.66 points, recovering from a low of 20,170.95.

Materials shares fell on weak bullion prices. Healthcare stocks found some support. Several stocks from energy, industrials and technology sectors gained, contributing significantly to market's recovery from lower levels.

The Materials Capped Index declined 1.42%. Equinox Gold Corp (EQX.TO), Oceanagold (OGC.TO), Osisko Mining Inc (OSK.TO), First Quantum Minerals (FM.TO), Osisko Gold Royalties (OR.TO), Eldorado Gold (ELD.TO), Fortuna Silver Mines (FVI.TO), Barrick Gold (ABX.TO) and Centerra Gold (CG.TO) lost 3 to 4.7%.

Healthcare stock Bausch Health Companies (BHC.TO) soared nearly 15%. Tilray Inc (TLRY.TO) and Chartwell Retirement Residences (CSH.UN.TO) gained 1.54% and 1.64%, respectively.

Energy stocks Birchcliff Energy (BIR.TO), Tourmaline Oil Corp (TOU.TO) and Advantage Oil & Gas (AAV.TO) gained 4.3%, 3.1% and 2.8%, respectively. Arc Resources (ARX.TO), Cenovus Energy (CVE.TO) and Imperial Oil (IMO.TO) were among the other prominent gainers in the energy sector.

Technology stocks Quarterhill (QTRH.TO) and Coveo Solutions (CVO.TO) climbed 5.7% and 3.7%, respectively. Opex Text Corp (OTEX.TO) surged 2.1%, while Celestica Inc (CLS.TO) and Sylogist (SYZ.TO) both gained about 1.5%.

In the industrials section, Ats Corp (ATS.TO) rallied more than 6%. Ritchie Bros Auctioneers (RBA.TO) climbed 5.1% and Bombardier Inc (BBD.B.TO) surged 3.7%.

In economic news, data from Statistics Canada showed new home prices in Canada fell by 0.1% month-on-month in April of 2023, following a flat reading in the prior month. Year-on-year, new home prices in Canada fell by 0.2% in April of 2023, the first decline since November 2019, after rising 0.2% in the prior month.

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, on an improved outlook for interest rates after US Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole on Friday. Powell said economic risks are 'shifting' and a rate cut may be warranted. Asian markets closed mixed on Friday.

RTTNews | 20 minut temu

Sensex, Nifty Seen Higher On Dovish Fed Comments

Indian shares are seen opening higher on Monday as traders react to Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole.

RTTNews | 1g 0 minut temu

Thai Shares Tipped To Open To The Upside On Monday

The Thai stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had slumped more than 40 points or 3.5 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it's poised to extend its gains on Monday.

RTTNews | 1g 29 minut temu

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Monday, extending the gains in the previous session, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 moving well above the 42,850 level, with gains across most sectors led by index heavyweights and technology stocks.

RTTNews | 1g 41 minut temu

Indonesia Stock Market May End Losing Streak On Monday

The Indonesia stock market has moved lower in two straight sessions, slipping almost 85 points or 1.1 percent along the way. The Jakarta Composite Index now sits just shy of the 7,860-point plateau although it's likely to stop the bleeding on Monday.

RTTNews | 1g 59 minut temu

Australian Market Notably Higher

The Australian stock market is notably higher on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weal spot.

RTTNews | 2g 0 minut temu

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the four-day losing streak in which it had fallen more than 480 points or 1.7 percent. The Hang Seng Index now rests just beneath the 25,340-point plateau and it's expected to open higher again on Monday.

RTTNews | 2g 14 minut temu

China Stock Market May Extend Winning Streak

The China stock market has moved higher in three straight sessions, advancing almost 100 points or 2.9 percent along the way. The Shanghai Composite Index now sits just above the 3,825-point plateau and it's expected to add to its winnings again on Monday.

RTTNews | 2g 29 minut temu

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