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The leading Canadian equity indices closed in red on the last day of the week, pulled down by weak metal and oil prices. The TSX Composite Index fell by 0.84 per cent to 19228.03 while the TSXV index lost 3.36 per cent to settle at 959.37 on Friday. However, S&P/ TSX 60 added 0.3 per cent to close at 1145.49.
Among the sectoral indices, telecom and industrials were the largest gainers, adding 0.26 per cent and 0.38 per cent, respectively. Energy and base metals were the biggest losers, doffing 1.36 per cent and 1.05 per cent, respectively.
The overall market response remained muted despite Statistic Canada reporting better than expected job additions in March.
Canada added 3.03 million jobs in March, within 1.5 per cent of employment figures in February 2020. However, the employment figure shot up by 371,000, or 32.4 per cent since February 2020, rendering 1.5 million Canadians jobless.
The S&P/TSX Composite is up 10.29 per cent year-to-date and posted a dividend yield of 3.11 per cent and price to earnings ratio of 20.42.
One-month price chart of TSX Composite Index (Source: EODHD/Others, Thomson Reuters)
Market Cues
Corus Entertainment (TSX: CJR.B) and Turquoise Hill Resources (TSX:TRQ) were the top percentage gainers on the TSX on Friday, gaining 6.5 per cent and6.1 per cent, respectively. On the other side, New Gold (TSX:NGD) and First Majestic Silver (TSX:FR) were the biggest decliners on Canada’s largest equity index, down 3.6 per cent and 2.8 per cent, respectively.
The Supreme Cannabis Company Inc. (TSX:FIRE) and Toronto-Dominion Bank (TSX:TD) were most active stocks, with 28.5 million and 9.7 million stocks exchanging hands respectively.
Commodities & Forex
Brent oil futures lost 0.4 per cent on Friday to US$ 62.95. Crude oil WTI also dropped by 0.47 per cent to US$ 59.32.
Gold also fell by 0.77 per cent to wrap up at US$ 1,743.30 per ounce.
CAD-USD gained 0.24 per cent to 0.7978.
