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The benchmark index of the Toronto Stock Exchange, S&P/TSX Composite Index, surged to its highest level since early March, driven by strengths in energy stocks. The index bagged 78.27 points or 0.47% to 16,575.28. Sister index TSX Venture also climbed 8.26 points or 1.15% to 725.71.
ATS Automation Tooling Systems Inc, Leon's Furniture Limited and Ag Growth International Inc were the biggest price gainers on the TSX, the shares rising by 13.41%, 12.15% and 10.28%, respectively. On the other side, IMV Inc, Andlauer Healthcare Group Inc and Docebo Inc shed the maximum price, with shares slumping by 12.96%, 7.43% and 5.66%, respectively.
S&P/TSX Composite Index’s 5-day Price Performance (as on August 12th, 2020). Source: EODHD/Others (Thomson Reuters).
Energy index on TSX gained approximately 1.94%, making it the best performing sector of the day. The surge in the sector came with the cheerful news from American Petroleum Institute (API). Crude inventory dropped by 4.5 million barrels, higher than analysts’ estimates, bolstering hopes of rise in oil price.
On Wallstreet: Global equity benchmark indices of the Wallstreet jumped higher with the Dow Jones Industrials surging 289.93 points or 1.05% to 27,976.84, the S&P 500 Index bagging 1.40% to 11,157.72 and the Nasdaq Composite Index up by 229.42 points or 2.13% to 11,012.24. Shares of TESLA bagged approximately 13% after announcing a 5:1 stock split and APPLE surged 3.3%.
On Macro Front: The Office of National Statistics (ONS) stated that British economy contracted about 20.4% in the April-June quarter of 2020. GDP numbers confirms that hard times are here, said British Chancellor of the Exchequer Rishi Sunak. Hundreds and thousands of people have already lost their jobs and sadly in coming future many more will, he added.
The ONS also stated that over the last six months, the British Economy has contracted by 22.1%, which is marginally lower than Spain’s 22.7% shrink and more than double the 10.6% slump in the United States.
TSX Composite Index Cues
Sector Summary
Strong: Energy (up 1.37%), Industrials (up 0.96%) and Technology (up 0.46%)
Weak: Consumer Non-Cyclicals (down 0.33%) and Utilities (down 0.01%)
Stocks Cues
Top Movers: ATS Automation Tooling Systems Inc (up 2.45 cents or 13.41% to CAD 20.72), Hudbay Minerals Inc (up 0.49 cents or 10.72% to CAD 5.06) and Corus Entertainment Inc (up .26 cents or 10.20% to CAD 2.81), respectively.
Bottom Movers: Equitable Group Inc (down 2.36 cents or 2.79% to CAD 82.23), Boralex Inc (down 0.91 cents or 2.69 to CAD 32.93) and Osisko Gold Royalties Ltd (down .36 points or 2.46% to CAD 14.30), respectively.
Volume Leader: StageZero Life Sciences Ltd. (up 38.46%), Enbridge Inc. (up 0.96%) and Suncor Energy Inc (up 2.08%)
Commodity Cues
Gold*: Gold futures added 0.14% to $1949.00/oz.
Crude Oil*: WTI Crude Futures jumped 2.55% to US$42.67/bbl and Brent Oil Futures bagged 2.09% to US$ 45.43/bbl.
Forex*: CAD/USD up 0.41% to 0.7549
*As on August 12th, 2020 (after market close)
