AUS
NZ
UK
CA
USA
IND
Toronto Stock Exchange’s S&P/TSX Composite extended its rally for the fourth consecutive day and bagged 299.43 points or 1.87% to 16,298.17 on Thursday. Stocks rallies despite no signs of clear winner between Donald Trump and Joe Biden in the US presidential results 2020. The US Federal Reserve also kept its benchmark interest rate at a record low near zero on November 05, signaling its readiness to support an economy under threat from the ongoing coronavirus pandemic.
The rally was supported by solid strength in Healthcare stocks, Basic Materials, Consumer Cyclicals and Consumer Non-Cyclicals. Every constituent sector of the S&P/TSX Composite Index settled in green.
Sector Summary / Source: EODHD/Others (Thomson Reuters)
Leading the index, shares of Aurora Cannabis Inc, Lightspeed POS Inc, and Cronos Group Inc are among the best performing stocks on the TSX Composite and up by 40.5%, 16.28% and 16.07%, respectively.
On the other side, shares of Badger Daylighting Ltd, Norbord Inc, and Stantec Inc are among the top laggards on the broader index and down by 12.42%, 4.28% and 3.56%, respectively.
Volume leaders are Enbridge Inc., Aurora Cannabis Inc. and Suncor Energy Inc. are among the volume leaders on the exchange.
Shares of Barrick Gold Corp surged 7.9% post the gold producer posted a third quarter profit that surpassed analyst’s expectations. The yellow metal prices also helped. Safe asset Gold traded at US$1,951.30 an ounce, up US$55.
Cannabis stocks rebounded too with Canopy Growth Corp. rose 10.9 per cent.
At the closing, the S&P/TSX Composite Index was featuring a dividend yield of 3.61% and traded at a Price-to-Earnings (PE) multiple of 19.63x.
The index reclaimed a price above its crucial short-term as well long-term support levels of 50-day and 200-day SMAs, a positive technical indicator. The leading momentum indicator, moving average convergence/divergence (MACD) is rising, with the difference between 12-day and 26-day EMAs being positive.
On Wall Street: The global benchmark indices of the United Stated extended gains on Thursday, with the Dow Jones adding 542.5 points or 1.95% to 28,390.18, the S&P 500 index bagging 67 points or 1.95% to 3,510.45, and Nasdaq Composite Index surged 300 points or 2.59% to 11,890.93.
Commodity Cues*
Gold December Futures pared all losses of the previous trading session and ended 2.67% higher at $1,946.80/oz.
The Brent Oil pared some gains and ended 0.73% lower at $ 40.93/bbl and WTI Crude settled 0.92% lower at $ 38.79/bbl.
Forex*
Canadian Dollar gained some ground against the green back on Thursday, with CAD/USD trading 0.72% higher at 0.7664.
U.S Dollar losses grounds against the basket of majors on Thursday, with Dollar index traded 0.96% lower at 92.51.
Bond Yield*
U.S 10-Year Treasury Bond Yield declined in the Thursday trading hours and ended 0.65% lower at 0.766% vs 0.771% a day before.
Canada 10-year Government Bond Yield increased 0.33% in the Thursday trading session after ~ 11.5% plunge in the Wednesday’s session. At the close, 10-Year Government Bond was yielding at 0.614%.
- All details after markets close on November 5, 2020
