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Canada’s primary stock index noted a decline on Tuesday, September 7, as markets opened after Labour Day on Monday.
The S&P/TSX Composite Index sank by 14.8 points or 0.07% to settle at 20,806.63, as the strengthening US dollar and bond yields pushed down energy and gold prices.
The energy sector settled 0.65% lower on Tuesday, while the industrials sector was down 0.68% and the utilities sector fell 0.58%.
However, TSX’s losses were broadly restricted by gains in the financials (up 0.27%), information technology (up 0.36%) and base metal (up 0.58%) sectors.
1-Year Price Chart (as on September 08, 2021). Analysis by Kalkine Group
Volume Active
Suncor Energy Inc, Enbridge Inc. and Manulife Financial Corporation were among the most actively traded stock on the TSX on Tuesday from the volume standpoint.
Movers and Laggards
|
Ticker |
Company Name |
1-day Price % Change |
|
Top-5 Gainers |
||
|
DML |
Denison Mines Corp |
7.4% |
|
CCO |
Cameco Corp |
7.1% |
|
MX |
Methanex Corp |
5.7% |
|
WTE |
Westshore Terminals Investment Corp |
4.5% |
|
BLDP |
Ballard Power Systems Inc |
4.4% |
|
Top-5 Losers |
||
|
NGD |
New Gold Inc |
-4.8% |
|
OGC |
OceanaGold Corp |
-4.6% |
|
TOY |
Spin Master Corp |
-3.6% |
|
EDR |
Endeavour Silver Corp |
-3.3% |
|
SVM |
Silvercorp Metals Inc |
-3.1% |
Wall Street Update
Investors weighed the potential impact of the rising Delta cases on the rate of economic recovery as US indexes finished neutral on Tuesday following a cautious day. The Nasdaq finished at a new all-time high, while the Dow and the S&P 500 fell.
The Dow finished at 35,100.00, down 269.09 points or 0.76%. The S&P 500 closed the day at 4,520.03, down 15.40 points or 0.34%, while the Nasdaq finished at 15,374.33, up 10.81 points or 0.07%.
Commodity Update
After gaining some strength from past few days, gold witnessed some selling pressure and traded at US$ 1,798.5.50/oz, down 1.49%.
Brent oil traded lower at US$ 71.69/bbl, down 0.73%, while Crude oil traded at US$ 68.35/bbl, down by 0.65%.
Currency News
The Canadian Dollar was lost some ground against the US Dollar on Tuesday, while USD/CAD closed at 1.2647, up 0.88%.
The US Dollar gained 0.55% against the basket of major currencies on Tuesday and closed at 92.54.
Money Market
The US 10-year bond yield continued to gain for the third consecutive session, closing in green at 1.377, up 3.05%.
The Canada 10-year bond yield, on the other hand, also jumped 3.7% on Tuesday and closed at 1.232.
