Canadian markets end trading day in positive zone, loonie unchanged

Published on July 29, 2022 03:56 AM EDT

Volume Active

Cenovus Energy Inc. (TSX:CVE) became the most volume active stock during the trading session on Thursday and jumped about four per cent and closed at C$ 24.56 per share. 10.9 million CVE shares traded hands on the Toronto Stock Exchange.

Followed by Cenovus, Athabasca Oil Corporation (TSX:ATH) and Kinross Gold Corporation (TSX:K) were actively traded on the TSX and recorded volumes of 9.9 million and 8.3 million, respectively.

Wall Street updates

The stocks in the United States rose on Thursday for a second day, with gains of more than 1% recorded by all three major indexes. Investor speculation grew that the Federal Reserve may not need to raise interest rates as quickly as some had anticipated due to data showing the economy shrank for a second consecutive quarter.

Following the data release, the yield on benchmark 10-year Treasury notes decreased. The best-performing S&P 500 sectors were utilities (.SPLRCU) and real estate (.SPLRCR), which typically increase when yields decline.

Commodities

For August delivery, the Gold Futures rose by 2.06 per cent to US$ 1,754.5 per troy ounce. Meanwhile, the October Brent Oil Contract jumped 0.56 per cent to US$ 102.24 per barrel, and the crude oil for delivery in September decreased by 0.16 per cent to US$ 97.1 per barrel.

Currency news

Like the previous trading sessions, the loonie remained unchanged at 0.1 per cent to 0.78, and the CAD/EUR was also constant at 0.77. Meanwhile, the US Dollar Futures declined 0.25 per cent to 106.06.

Raza Naqvi

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Raza Naqvi - Financial Journalist
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Raza comes from a hard-news background and is an experienced writer with a demonstrated history of working in reputed organizations like the United Nations, Indian Express, and Hindustan Times. Currently, he is exploring the financial world!...

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