Energy Sector Drags TSX Composite Down

2 min read | December 18, 2020 05:06 PM EST | By Team Kalkine Media

The benchmark index of the Toronto Stock Exchange, the S&P/TSX Composite Index, lost 118.31 points or 0.67% lower at 17,534.63. However, the S&P/TSX 60 VIX, which measures the implied volatility of index options, was unchanged at 11.27.

Despite a lower close, the index managed to trade above its near-term support levels of 5-day, 10-day and 20-day simple moving averages (SMAs). Also, the index is hovering in a bullish trend with price traded well above its crucial short-term as well as long-term support levels of 50-day and 200-day SMAs.

The moving average convergence divergence (MACD) is hovering above its 9-day SMA signal line, with the difference between short length 12-day Exponential Moving Average (EMA) and long-length 26-day EMA is positive.

At the close, S&P/TSX Composite featured a dividend yield of 3.35% and traded at a P/E multiple of 19.60x.

S&P/TSX Composite 5-day Price Chart (as on December 18, 2020); Source: EODHD/Others (Thomson Reuters)

 

Stocks in Play*

 

Top Gainers: Trillium Therapeutics Inc (4.7%), Ballard Power Systems Inc (up 4.2%), and Methanex Corp (up 3.8%).

Top Losers: BlackBerry Ltd (down 15.8%), Enghouse Systems Ltd (down 8.9%), and OceanaGold Corp (down 5.9%)

On Wall Street: Stocks on the Wall Street traded lower with the Dow Jones closed 0.41% lower at 30,179.05, the S&P 500 index settled 0.35% lower at 3,709.41 and the Nasdaq Composite index closed slightly lower by 0.07% to 12,755.64.

 

Commodity News*

 

Gold Futures was down 0.25% or 4.45 points to US$ 1885.98/bbl.

WTI Crude Futures traded 1.53% higher at USD 49.10/bbl and Brent Crude Oil Futures traded 1.49% higher at US$ 52.26/bbl.

Canadian Dollar weakened against the US counterpart; CAD/USD pair traded 0.51% lower at 0.7820.

 

*All details on December 18, 2020, after markets close.

 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.