TSX crosses 20K again, Silver crest & Sprott top gainers

Canada’s main index managed to the 20,000-mark again on Wednesday, July 21, as energy stocks strengthened in the wake of rising oil prices.

As oil prices rebounded from the steep fall earlier this week, the TSX energy index climbed by 2.59%. Base metal and industrials sectors also went up by 2.58% and 0.66%, respectively. The gains were partly negated by the 1.09% fall in the telecom sector.

The S&P/TSX composite Index rose 167.34 points, or 0.84%, on Wednesday to settle at 20,110.05.

 1-Year Price Chart. Analysis by Kalkine Group

Gainers and Losers

 

Actively Traded Stocks

The iShares S&P/TSX 60 Index ETF recorded a trading volume of 7.16 million on the TSX on Wednesday. It was followed by Suncor Energy Inc, with that of 6.66 million, and Manulife Financial Corporation, with that of 5.89 million.

Wall Street Update

US equities recorded a solid surge on Wednesday, continuing the previous session's significant comeback. The rally was partly fueled by the latest earnings reports of major corporations like Coca-Cola, Verizon, and Johnson & Johnson.

The Dow Jones Industrial Average increased 0.8% to 34,798.00, the S&P 500 gained 0.8% to 4,358.69, and the Nasdaq rose 0.9% to 14,631.95

Commodity Update

Gold was trading at US$ 1,803.40, down 0.44%, amid profit-booking.

Brent Oil rose 4.15 % to US$ 72.23/bbl, while WTI Crude Oil jumped 4.27% to US$ 70.30/bbl on Wednesday.

Currency News

The Canadian Dollar rose against the US Dollar on Wednesday, while USD/CAD closed at 1.2552, down 0.99%.

The US Dollar index ended its four-day winning streak by falling 0.18% against the basket of major currencies, closing at 92.8.

Money Market

The US 10-year bond yield gained handsomely on Wednesday and ended at 1.292, up 5.72%.

The Canada 10-year bond yield also soared 3.65% and closed at 1.222.

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