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Canada’s TSX composite index fell on Thursday, April 22, as resurgence in coronavirus infections across Asian countries raised concerns over oil demand, leading Energy index to drop by 1.06%. The third largest consumer of oil, India reported world’s highest daily record of 314,835 COVID-19 infections on Thursday amid a second wave of the pandemic. Additionally, US President Joe Biden proposed a rise in the marginal income tax rate to 39.6%, up from 37.0%, causing a drop in the US stocks. As a result, TSX Composite Index fell 0.58% to settle at 19,031.64.
1-Year S&P/TSX Composite Daily Price Chart (as on April 22, 2021). Source: EODHD/Others (Thomson Reuters)
The TSX Venture Index was down by 0.85% to settle at 921.00.
Movers and Laggards on TSX Composite
|
Ticker |
Company Name |
%Change |
|
Top-5 Movers |
||
|
LB |
Laurentian Bank of Canada |
5.6% |
|
GSY |
goeasy Ltd |
4.5% |
|
AC |
Air Canada |
4.4% |
|
REAL |
Real Matters Inc |
3.6% |
|
CP |
Canadian Pacific Railway Ltd |
3.4% |
|
Top-5 Laggards |
||
|
TRQ |
Turquoise Hill Resources Ltd |
-7.0% |
|
SIL |
Silvercrest Metals Inc |
-5.5% |
|
NGD |
New Gold Inc |
-4.8% |
|
TXG |
Torex Gold Resources Inc |
-4.5% |
|
TRIL |
Trillium Therapeutics Inc |
-4.5% |
Source: EODHD/Others (Thomson Reuters)
Active Volume Leaders
The most heavily traded shares by volume were Pine Cliff Energy Ltd, with 12.26 million, followed by Tetra Bio-Pharma Inc with 7.83 million and Enbridge Inc with 5.38 million.
Wall Street
Following reports that US President Joe Biden is considering a proposal that could increase the capital gains tax on rich people, US stocks finished significantly lower on Thursday, the largest one-day drop in five weeks. The Dow dropped 0.94 percent to 33,186, while the S&P and Nasdaq declined 0.92 percent and 0.94 percent, respectively.
Commodity Update
Gold futures declined to US$ 1,781.20 or 0.62%.
Crude has shown some strength, where Brent Oil improved slightly by 0.12% to US$ 65.40/bbl, and WTI Crude Oil increased by 0.13% to US$ 61.43/bbl.
Forex Update
The Canadian dollar lowered against the US Dollar on Thursday, with USD/CAD trading marginally higher by 0.06% at 1.2504.
The US Dollar Index (DXY) closed slightly higher, up 0.15% to 91.29 on April 22.
Money Market
The US 10-year bond continued its losing streak for the third session and closed at 1.5416% on April 22, down 1.12%.
Canada 10-year bond also corrected 0.72% at 1.514% on Thursday.
