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The benchmark equity index of the Canadian stock market, the S&P/TSX Composite, declined 0.19% or 33.74 points to 17,500.89 on Monday. During the early trading session, the index crashed as much as 1.3% to drop to an intraday low of 17,307.45.
Energy and healthcare sector were top laggards on TSX, declining by 2.67% and 1.8% respectively.
Information technology and metals and mining are the other two sectors on the TSX that settled in green, and increased by 1.94% and 0.52%, respectively.
S&P/TSX Composite Index 5-day Price Chart (as on December 21, 2020); Source: EODHD/Others (Thomson Reuters)
News on fast spreading virus strain in the UK stopped the bulls in the early trading hours. However, a stimulus of US$ 900 million approved by the US lawmakers later in the day extended support to the North American markets, offsetting most of the losses of the early trading hours.
The US$ 900 billion relief package for the world's biggest economy will provide a long-sought boost for millions of Americans and businesses battered by the coronavirus pandemic.
Despite the stimulus, global benchmark indices of the New York Stock Exchange traded in mix. The Dow Jones Industrials closed 0.12% higher at 30,216.45. The other two benchmark indices closed in red, with the S&P 500 traded 0.39% lower at 3,694.92 and the Nasdaq Composite index settling 0.10% lower at 12,742.52.
The benchmark equity indices in Europe plummeted between 1.5% to 3% after British Prime Minister Boris Johnson stated that this virus is 70% more transmissible.
London Stock Exchange benchmark FTSE 100 slumped 1.73%, Germany’s DAX plummeted 2.82% and France’s CAC was off 2.43%, respectively.
Stock to Watch*
Top Gainers: Great Canadian Gaming Corp (up 16.8%), Kinaxis Inc (up 6.3% ), and Silvercrest Metals Inc (up 6.3%)
Top Losers: Enerplus Corp (down 7.2%), Vermilion Energy Inc (down 7%), and Aurora Cannabis Inc (down 6.7%) respectively.
Volume Leaders: Suncor Energy Inc., Canadian Natural Resources Limited and Air Canada
Commodity News*
February Gold Contract traded 0.32% lower at US$ 1,882.80.
The Brent Oil Futures plummeted 2.58% to US$ 50.91/bbl and WTI Crude slumped 2.77% to US$ 47.74/bbl.
Canadian Dollar further losses ground against its US counterpart, with currency pair CADUSD traded 0.55% lower at 0.7777.
*All details as on December 21, 2020, after markets close.
