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The broader index of the Canadian Stock market, the S&P/TSX Index, on Thursday pared some of the losses of the previous trading session, driven by higher crude oil prices and rising energy sector.
The S&P/TSX Composite traded 33.48 points or 0.19% higher at 17,593.34, after falling by more than 100 points a day ago.
At the close the index was offering a dividend yield of 3.35% and traded at Price-to-Earnings (P/E) multiple of 19.50x.
S&P/TSX Composite 5-day Price Chart (as on December 10, 2020); Source: EODHD/Others (Thomson Reuters)
The gain was primarily because the international crude oil benchmark Brent Oil prices pushing beyond US$ 50/bbl and West Texas Intermediate closing at its highest level in more than nine months.
The energy sector surged approximately 3.96%, with shares of Vermilion Energy Inc. bagged 8.5%, followed by Whitecap Resources Inc. and MEG Energy Corp. up 6.9% and 6.8% respectively.
Stocks in Play*
Top Gainers: Enerplus Corp (up 9.9%), Vermilion Energy Inc (up 8.5%), and Whitecap Resources Inc (up 6.9%)
Top Laggards: Canada Goose Holdings Inc (down 3.7%), Franco-Nevada Corp (down 3.7%), and Empire Company Ltd (down 3.2%)
Volume Leader: Canadian Natural Resources Limited, Suncor Energy Inc. and Enbridge Inc.
On the Wall Street: The Dow Jones lost 69.55 points to touch 29,999.26, the S&P 500 index doffed 4.72 points at 3,668.10, while the Nasdaq composite was up 66.86 points at 12,405.81.
Commodity News*
Brent Oil contract bagged US$ 50.25/bbl and WTI Crude contract traded 2.77% to US$ 46.78/bbl respectively.
The Gold Futures declined slightly by 0.06% to US$ 1,837.40/oz.
Canadian Dollars strengthened against the US greenback, with currency pair CAD/USD traded 0.60% to 0.7849.
* All details as on December 10, 2020
