Despite Recovery In Energy Sector, TSX Composite Index Slips 0.17% To 19,171

2 min read | April 14, 2021 05:13 PM EDT | By Team Kalkine Media

Copyright © 2021 Kalkine Media Pty Ltd.

Canada’s S&P/TSX Composite Index settled in red after closing flat on the last trading session, as the index ended at 19,171.66, down 0.17% or 32.04 points.

The TSX Energy index moved ~4% on Wednesday and Basic Materials also climbed 4.6%. However, gains in these two sectors was largely offset by the weakness in Information Technology, Healthcare, and Industrials sectors, down 1.75%, 1.19%, and 0.31%, respectively.

The reported traded volume on TSX was 204.46 million. The TSX Venture Index fell 0.93% to settle at 924.66.

 5-day S&P/TSX Composite Price Chart (as on April 14, 2021). Source: EODHD/Others (Thomson Reuters)

Movers and Laggards on TSX Composite

Ticker

Company Name

% Change

Top-5 Movers

MEG

MEG Energy Corp

10.0%

TECKb

Teck Resources Ltd

9.5%

WCP

Whitecap Resources Inc

9.0%

VET

Vermilion Energy Inc

6.8%

LUN

Lundin Mining Corp

6.3%

Top-5 Laggards

OGI

OrganiGram Holdings Inc

-11.0%

SHOP

Shopify Inc

-5.1%

FR

First Majestic Silver Corp

-4.2%

APHA

Aphria Inc

-4.0%

ELD

Eldorado Gold Corp

-4.0%

 Source: EODHD/Others (Thomson Reuters)

 

 

Active Volume Leaders

The most heavily traded shares by volumes on the TSX were Royal Bank of Canada, with 7.39 million shares exchanging hands, followed by Suncor Energy Inc and Cenovus Energy Inc, with traded volumes of 7.07 million and 6.01 million, respectively.

Wall Street Update

The United States market witnessed mixed signals on Wednesday, where the S&P 500 Index went down by 0.41% to 4,124.66. Technology benchmark index Nasdaq Composite Index was down 0.99% at 13,857.84, while the Dow Jones up by 0.16 % or ~53 points to 33,730.89.

Money Market Update

Due to strong economic data from service sector and pick up in the labor market, the US 10-Year Treasury bond yield up by 0.88% to 1.63 while the Canada 10-Yr Government Bond Yield went up by 1.53% to 1.53.  

Commodity and Forex Cues

On account of global economic recovery prospects and tamed production quota by OPEC, settling both May and June level, the WTI Crude Oil Future up by 4.94% to US$ 63.15/bbl on Wednesday while the International benchmark Brent Oil up by 4.57% to US$ 66.58/bbl.

Gold Futures prices reported decline ~0.65% to US$ 1,734.90/oz.

The USD/CAD record low for the third straight day on Wednesday down by 0.09% to 1.252. This downtrend attributed mainly to bullish crude oil prices, bets on Fed rate hike.  Additionally, the US Dollar Index fell 0.19% against the basket of majors at 91.674.


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