TSX Composite Settles in Red, Bombardier Most Active Stock

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The S&P/TSX Composite traded lower for the third straight day, down 0.03% to 18,700.67 on Wednesday. However, the index bagged approximately 3.5 per cent in March 2021, recording second consecutive month of gains.

Regardless of slight weakness in the broader index, the small-caps and mid-caps recorded strength, with S&P/TSX SmallCap index surging 0.82% to 715.61 and S&P/TSX MidCap up 0.44% to 1,117.15.

S&P/TSX Venture Index surged 2.53% to 952.55.

On daily price chart, the index traded below its short-term moving averages of 5-day, 10-day, and 20-day short-term moving averages (SMAs) but managed to trade above its crucial short-term support level of 50-day SMA and long-term moving average of 200-day SMA. Momentum indicator 14-day Relative Strength Index is hovering in neutral zone at 54.4, a positive bias.

Volume Leaders: Bombardier Inc. Class B (20.49 mn), Toronto-Dominion Bank (14.97 mn), and Bank of Nova Scotia (11.07 mn).

5-day Price Chart (as on March 01, 2021). Source: Refinitiv (Thomson Reuters)

 

Movers and Laggards

Ticker

Company Name

% Change

Top-5 Gainers

LAC

Lithium Americas Corp

11.7%

WFG

West Fraser Timber Co Ltd

8.2%

SIL

Silvercrest Metals Inc

7.2%

FVI

Fortuna Silver Mines Inc

7.0%

BLDP

Ballard Power Systems Inc

6.6%

Top-5 Laggards 

BB

BlackBerry Ltd

-10.5%

RUS

Russel Metals Inc

-2.9%

RCI.B

Rogers Communications Inc

-2.8%

LB.TO

Laurentian Bank of Canada

-2.8%

QBR.B

Quebecor Inc

-2.6%

Source: Refinitiv (Thomson Reuters)

 

US Market Update: Technology benchmark Nasdaq Composite Index moved 1.54% higher on Wednesday to 13,246.87. The S&P 500 added 0.36% to 3,972.89 lead by strength in the technology stocks, and the Dow Jones Industrials declined 0.26% to 32,981.55.

 

Commodity Update

International Crude Oil benchmark Brent Oil Futures contracted for the second straight day, down 0.94% to US$63.54/bbl.  The American Oil benchmark, Crude WTI, traded 2.30% lower to US$ 59.10/bbl.

Gold Contract offset loses of the previous trading session, up 1.78% to $1,713.80/oz. Also reclaimed its $1,700/oz mark in the Wednesday trading session.

 

Forex Update

Canadian Dollar recorded strength against its US counterpart, with CAD/USD up 0.61% to 0.7961.

US Dollar Index traded slightly lower by 0.09% to 93.236.

 

Money Market Update

Yield on the Canadian 10-Year Government Bond rose 1.76% to 1.561% while the US 10-Year Treasury Bond Yield increased 1.99% on Wednesday to 1.744%.

 


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