TSX continues to fall amid commodities selloff, Loonie sinks

2 min read | August 19, 2021 08:30 AM PDT | By Team Kalkine Media

Canada's main stock index continued its losing streak on Thursday, August 19, amid a commodities sell-off that pulled down energy and mining firms.

Metal and oil prices dipped over Delta variant concerns and dragged the energy and base metal sectors down by 1.71% and 3.51%, respectively. The healthcare sector also declined by 1.95%, while the financial sector sank 0.44%.

The S&P/TSX Composite Index, at day end, remained in the red territory for the sixth trading session in a row on Thursday, down 86.75 points or 0.42% at 20,215.36.

1-Year Price Chart. Analysis by Kalkine Group

Gainers and Losers

Actively Traded Stocks

Enbridge Inc. was the most actively traded stock on the TSX on Thursday, with a trading volume of 11.34 million. It was followed by Suncor energy Inc. and and Nevada Copper Corp., with that of 10.10 million and 10.05 million, respectively.

Wall Street Update

Wall Street noted turbulent trading on Thursday as traders voiced concern about the markets' near-term prospects after initial weakness pushed the main averages to their lowest intraday levels in over a month.

The Dow Jones Industrial Average fell 66.57 points or 0.2% to 34,894.12, while the S&P 500 gained 5.53 points or 0.1% to 4,405.80 and the Nasdaq gained 15.87 points or 0.1% to 14,541.79.

Commodity Update

Gold traded at US$ 1,783.10/oz, down by 0.07%.

Oil extended its losing streak for the sixth straight session as Brent oil traded lower at US$ 66.45/bbl, down 2.61%, and Crude oil declined by 2.70% at US$ 63.69/bbl.

Currency News

The Canadian Dollar continued to slide against the US Dollar on Thursday, with currency pair USD/CAD closed at 1.2826, up 1.35%.

The US Dollar index stood strong for the fourth straight session against the basket of major currencies and ended at 93.57, up 0.47%.

Money Market

The US 10-year bond yield stood weak on Thursday and ended in red at 1.237, down 0.54%.

The Canada 10-year yield, too, fell for the seven consecutive session and closed at 1.128, down 2.34%.

 


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