TSX climbs as base metals and energy gains, loonie slumps

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The TSX benchmark index increased by 0.22 per cent on Friday, August 5, supported by the base metals and energy sectors.

Canada’s main stock index climbed 43.09 points or 0.22 per cent to end the session at 19,620.13 on Friday, August 5, underpinned primarily by base metals and energy sector.

The base metals sector increased by 4.01 per cent, followed by the energy sector, which was up by 1.88 per cent. Meanwhile, the industrial and healthcare also rose by 0.62 per cent and 0.51 per cent respectively. The financial sector jumped by 0.26 per cent. IT, utilities, and telecom sectors were in the red territory.

Employment in Canada fell by 0.2 per cent while the unemployment rate remained constant at 4.9 per cent in July compared to June this year, according to the Labour Force Survey for July, released by Statistics Canada on Friday.One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 5). Analysis by © 2022 Kalkine Media®

Volume Active

Enbridge (TSX: ENB) was the most actively traded stock on the Toronto Stock Exchange, with a volume of 16.28 million. Suncor (TSX: SU) and TC Energy (TSX: TRP) were the second and third after Enbridge in terms of trading volume as 11.13 million SU shares and 7.78 million TRP shares exchanged hands on Friday.

Wall Street update

In the US market, the NASDAQ Composite Index slipped by 63 points or 0.50 per cent to 12,657.56 on Friday. Meanwhile, the NYSE Composite Index gained slightly by 0.32 per cent to 15,273.23. The Dow Jones Industrial Average increased by 0.23 per cent, while the S&P 500 index plummeted by 0.16 per cent.


In the commodities market, gold prices dipped by 0.87 per cent to US$1,791.20 per troy ounce. Meanwhile, crude oil price for September 2022 jumped by 0.53 per cent to US$ 89.01 per barrel. The Brent oil contract for October also climbed 0.85 per cent to US$ 94.92 a barrel.

Currency news

CAD/USD slumped by 0.51 per cent to 0.77 while CAD/EUR was in the green at 0.75 on Friday. Meanwhile the US Dollar Index Futures for September 2022 surged by 0.88 per cent to 106.49.



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