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The S&P/TSX Composite Index registered an all-time high of 19,403 on Wednesday, April 28, and settled 0.95% or 181.86 points higher at 19,356. The benchmark Canadian equity index also recorded a fourth consecutive day of positive close on Wednesday.
The surge was largely fueled by a 3.2% rise in the Energy index, followed by strength in technology, financials, healthcare and bases materials. The TSX’s Technology index surged by approximately 3.1%.
1-Year TSX Composite Index Daily Price Chart (as on April 28, 2021). Source: EODHD/Others (Thomson Reuters).
Movers and Laggards
Source: EODHD/Others (Thomson Reuters)
Volume Leaders on TSX Composite:
The Royal Bank of Canada, with a volume of 9.47 million shares, led the line of most active shares on TSX on Wednesday, followed by Enbridge Inc (6.47 million) and Cenovus Energy Inc (5.90 million).
Wall Street Update
Stocks on the Wall Street moved lower, with all three major equity indexes trading in red.
Commodity and Currency Cues
WTI Crude moved up 1.46% to $63.86/bbl and International benchmark Brent oil futures settled 1.28% to $67.27/bbl. Bothe oil contracts traded in the positive territory for the second straight day.
Gold futures traded lower for the second day in a row, down 0.27% to $1,773.20/ounces.
The Canadian dollar pared losses against its US counterpart in the previous session and strengthened against the US dollar on Wednesday, with currency pair USD/CAD traded 0.83% higher at 1.2304. This was mainly triggered by the improving crude oil prices and positive sentiments over the faster-than-expected economic recovery led by COVID-19 vaccine rollout.
The Dollar index traded 0.29% lower against the basket of majors and settled at 90.58 vs 90.84.
Money Market Update
Yield on the Canada 10-Year Government Bond soared for the third consecutive day and settled 1.89% higher at 1.563%. This was driven by the strengthening Canadian dollar against the greenback.
The US 10-Year Treasury Bond Yield cooled down on Wednesday after fourth straight days of rise and settled 0.54% lower at 1.613%.
