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ON TSX: The benchmark indices of the Toronto Stock Exchange – TSX COMPOSITE INDEX settled 133.58 points or 0.82% higher at 16,501.61, with energy stocks ruled on Wednesday, with Cenovus Energy surged 43 cents, or 7%, to CAD 6.61, while Enerplus leapt up by 24 cents, or 6.7%, to CAD 3.85. In the Financials space, Great-West Lifeco zoomed CAD 1.11, or 4.6%, to CAD 25.01, while Manulife bagged 80 cents, or 4.4%, to CAD 18.81. Further, in the consumer discretionary arena, Linamar propped CAD 1.99, or 5%, to CAD 42.03, while Canadian Tire spiked CAD 3.73, or 3%, to CAD 128.19. However, utility stocks traded in negative, with Canadian Utilities declined by 99 cents, or 2.9%, to CAD 33.11, while Hydro One docked 66 cents, or 2.3%, to CAD 27.74. In communications, Cineplex slumped 24 cents, or 3%, to CAD 7.81, while Corus Entertainment six faded 6 cents, or 2.4%, to CAD 2.41.
TSX COMPOSITE INDEX PRICE CHART
TSX 300 Composite Index 5-Year Price Chart (as on August 05th, 2020, after the market close). Source: EODHD/Others (Thomson Reuters).
On the macro front, Statistics Canada reported that Canadian merchandise imports and exports recovered strongly in June’20, primarily on the strength of motor vehicles and parts. Further, the agency added imports surged by 21.8%, and exports leapt up 17.1%. Canada's merchandise trade deficit with the world widened from $1.3 billion in May to $3.2 billion in June.
ON WALLSTREET: The broader indices of the Wallstreet, The Dow Jones Industrials bagged 373.05 points, or 1.4%, to 27,201.52, reported four consecutive days of winning. The S&P 500 Index added 21.26 points to 3,327.77, also traded higher for a fourth straight day and the technology benchmark NASDAQ added 57.23 points to a record high of 10,998.40 and ended higher for the sixth straight days.
Market Cues: TSX COMPOSITE
Top Performers: Hudbay Minerals Inc (up 9.95% to CAD 4.86), Badger Daylighting Ltd (up 8.22% to CAD 32.25) and First Quantum Minerals Ltd (up 7.84% to CAD 12.65).
Top Laggards: MAG Silver Corp (down 3.8% to CAD 22.54), Pason Systems Inc (down 15.79% to 6.20) and Silvercrest Metals Inc. (down 3.07% to 13.56).
Volume Leader: Enbridge Inc, Baytex Energy Corp and Bank of Montreal
Commodity Market Update
Crude Oil Future Prices*: International crude oil benchmark Brent Oil and WTI Crude traded at US$ 45.17/bbl and US$ 42.19/bbl, respectively.
Gold Price*: Gold price was traded at USD 2,037.10 per ounce, up by 1.42% from previous day closing.
Currency Rates*: The Canadian dollar forged ahead 0.12 cents to 75.33 cents U.S.
Bond Yields*: U.S 10-Year Treasury yield and Canada 10-Year Government Bond yield were traded at 0.549 per cent and 0.503 per cent, respectively.
*At the time of writing (as on August 05th, 2020, after the market close).
