TSX rises as US-China tensions subside, loonie gains 0.3%

Image Source: © Solarseven | Megapixl.com

Canada's major stock index rose on Wednesday, August 3, as geopolitical concerns subsided after Nancy Pelosi departed from Taiwan. Pelosi expressed her support for Taiwan and that could have angered China over her brief visit.

The S&P/TSX Composite Index gained 0.2 per cent during the trading session and closed at 19,545.94 points.


One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 4). Analysis by © 2022 Kalkine Media®

Volume Active

Enbridge Inc (TSX:ENB), one of Canada's largest oil and gas companies, recorded the highest trading volume on August 3. Over 10.5 million ENB shares were traded on the Toronto Stock Exchange, and the price went up by 0.1 per cent to C$ 56.71.

Another energy company, Suncor Energy Inc. (TSX:SU), also recorded a significant volume as its 8.44 million shares traded hands. However, its price declined by 3.7 per cent to C$ 41.31 apiece.

Wall Street Updates

Almost all types of stocks gained positive momentum in the US equities markets, with the Nasdaq's battered tech names leading the way. The NASDAQ Composite Index jumped about 2.6 per cent to 12,668.16 points.

Meanwhile, Dow Industrials gained 1.3 per cent and closed at 32812.5 points. The S&P 500 closed at 4,155.17 after increasing by 1.56 per cent.

Commodities

The Gold futures for December 2022 decreased by 0.74 per cent and closed at US$ 1,776.4 per troy ounce. Meanwhile, the Crude Oil WTI Futures declined by nearly four per cent to US$ 90.66 per barrel.

Brent Oil Futures went down by 3.7 per cent to US$ 96.78 a barrel.

Currency news

The CAD/USD gained 0.32 per cent to 0.78. Meanwhile, the CAD/EUR went up by 0.3 per cent to 0.7658. The US Dollar Index Futures climbed 0.26 per cent to 106.38.



 


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