Closing Bell: Energy Gains Help TSX Rise

2 min read | August 26, 2020 11:10 PM EDT | By Team Kalkine Media

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Closing Bell: Energy Gains Help TSX Rise

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Canada’s broader equity index bagged 172.49 points or 1.038% to touch 16,789.97 on Wednesday, August 26. Communication stocks stole the show, with the TSX information technology index gaining by 3.36%. TSX financial index followed next, bagging 1.72%. However, energy stocks offset some of the gains made by the TSX composite index, with the energy index slumping 2.25%.

Northern Dynasty Minerals Ltd, D-Box Technologies Inc, B2Gold Corp, Baytex Energy Corp and Kinross Gold Corporation were among the most active stocks during intraday trading.

The TSX Venture index added 15.64 points or 2.18% to touch 729.87.

5-day S&P/TSX Composite Index’s daily price chart (as on August 26^th, 2020). Source: EODHD/Others (Thomson Reuters)

Stock prices of Descartes Systems Group Inc. and Richelieu Hardware Ltd touched a new 52-week-high, up by 3.6% and 2.7%, respectively.

Top Movers: Northern Dynasty Minerals Ltd (up 51.95% to CAD 1.17), General Moly Inc. (up 50% to CAD 0.21), D-Box Technologies Inc. (up 31.82% to CAD 0.15) and Horizonte Minerals Plc. (up 31.25 to CAD 0.11).

Bottom Movers: Bengal Energy Ltd. (down 16.67% to CAD 0.05), Orbit Garant Drilling Inc. (down 13.59% to CAD 0.89), RTG Mining Inc. (down 12.20% to CAD 0.18) and Avicanna Inc. (down 11.66% to CAD 1.44).

On Wall Street: The Nasdaq Composite Index hit all-time high for the eight-consecutive day, jumping 1.7 per cent to 11,665.06. The S&P 500 index also hit a new high for the fourth-straight day, surging 1.03 per cent to 3,478.73. The Dow Jones Industrial Average Index added 0.30% to 28,331.92.

Commodity Cues*: The “Gold Futures” recovered losses of the previous trading session and added 1.53% to reach US$ 1,952.50/oz. The International Crude Oil benchmark Brent Oil gave up some of the gains its accumulated in the last trading session and ended 0.48% lower at US$ 45.64/bbl. The Crude Oil WTI Futures added 0.09% to US$ 43.39/bbl, respectively.

The Dollar Index extended losses for the second consecutive day, down 0.21% to 92.83.

The Canadian Dollar gained ground against the U.S Dollar and up 0.25% against the green back to 0.76.

*As on August 26^th, 2020, after markets close.

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