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For the second day in a row, the TSX Composite Index closed in the green after gaining 88.47 points, 0.41 per cent, to 21,581.70, Thursday, March 10. The financial sector was down 0.14 per cent, but energy gained 1.66 per cent and base metals 1.37 per cent.
There is much rattling the market but with materials and energy accounting for over 30 per cent of Canada’s benchmark index, it has managed to get itself in the green week-to-date, up 0.84 per cent. This, after it has witnessed gains in the past three weeks.
One-year price chart (March 10). Analysis by © 2022 Kalkine Media®
Volume actives
Canadian Natural Resources Limited saw 14.3 million shares traded, making it the most active stock. It was followed by Suncor Energy Inc that saw over 13.7 million shares switch hands, and Enbridge Inc saw 10.2 million shares traded.
Movers and laggards
Wall Street update
Wall Street, however, experienced a session of losses as it was found that inflation in the US is at a four-decade high. Consumer prices spiked 7.9 per cent in February.
The Dow ended lower by 112.18 points, 0.34 per cent, to 33,174.07 points, while the S&P 500 decreased by 18.36 points, 0.43 per cent, to 4,259.52 points. Nasdaq’s benchmark sank 125.58 points, 0.95 per cent, to 13,129.96.
Commodities update
Gold rose 0.61 per cent to US$ 2,000.40. The price of Brent oil fell 1.63 per cent and was at US$ 109.33/bbl and that of crude oil was down 2.47 per cent to US$ 106.02/bbl.
Currency news
The loonie gained 0.29 per cent compared to the US dollar while USD/CAD ended at 1.2767. The US Dollar Index was at 98.51 against the basket of major currencies, up 0.55 per cent.
Money market
The US 10-year bond yield was up 2.15 per cent to 1.993 and the Canada 10-year bond yield was up 1.73 per cent to 1.936.
