TSX jumps 1.8% at close as healthcare soars, loonie up 0.8%

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The Canadian market closed higher on Friday as it rose by 345.8 points during the trading session. The S&P/TSX Composite Index jumped 1.8 per cent from the previous day and closed at 19,062.91 points.

Amid rising monkeypox cases and discussions on whether it should be declared a public health emergency worldwide, the healthcare sector recorded the highest gain on Friday as it surged by around six per cent.

Meanwhile, other sectors like the base metals, energy, and information technology rose by 4.6 per cent, 3.2 per cent, and 3.7 per cent. 


One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (June 24). Analysis by © 2022 Kalkine Media®

Volume Active

The stock of Argonaut Gold Inc. (TSX:AR) surged 1.7 per cent and became the most traded stock on the Toronto Stock Exchange with a volume of 11.6 million shares.

Meanwhile, Athabasca Oil Corporation (TSX:ATH) followed suit and recorded a trading volume of 11.4 million shares. The stock price of Athabasca surged by 8.5 per cent on Friday.

Wall Street Update

Equities markets in the United States recorded significant gains on June 24. The NASDAQ Composite Index climbed 3.3 per cent over the previous day, and Dow Industrials recorded increases of 2.7 per cent. Meanwhile, the S&P 500 surged by 3.1 per cent.

The growth in the market could be due to positive market sentiments after some analysts claimed that the Federal Reserve could slightly ease inflation expectations.

Commodity Updates

The gold prices fell on Friday as Gold Futures for August delivery declined to US$ 1,827.9 per troy ounce. Meanwhile, the Brent Oil contract for August climbed 2.8 per cent to US$ 113.09 per barrel, and Crude Oil WTI Futures surged 2.5 per cent to US$ 107.08 a barrel.

Currency News

After remaining unchanged for the past few days, the CAD/USD changed by increasing 0.82 per cent to 0.78. However, the US Dollar Index Futures decreased by 0.29 per cent to 103.89.



 


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