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The main Canadian stock index settled lower on Tuesday, August 31, although it ended the month on a high note after capturing seven straight months of gains. This is said to have been the longest gain streak in about four years.
The industrial sector, meanwhile, climbed 1.15% as Canadian National Railway shares gained 7.4% on Tuesday following US transportation regulator’s refusal to allow a voting trust in the Kansas City Southern merger deal.
The financials and base metal sectors fell by 0.65% and 0.42%.
At close, the S&P/TSX composite index fell 12.03 points or 0.06% to close at 20,582.94 on Tuesday, after setting a record of 20.703.89 in earlier trading.
1-Year Price Chart. Analysis by Kalkine Group
Gainers and Losers
Actively Traded Stocks
Bombardier Inc, Canadian Pacific Railway Limited and Suncor Energy Inc were the most actively traded stocks on TSX on Tuesday, with trading volumes of 11.56 million, 7.31 million and 7.09 million.
Wall Street Update
Tuesday's trading session was marked by a lack of direction in the US stock market, with the day closing slightly down.
The Dow Jones Industrial Average fell 39.11 points or 0.1% to 35,360.73, while the S&P 500 fell 6.11 points or 0.1%, to 4,522.68 and the Nasdaq was down 6.66 points to 15,259.24
Commodity Update
Gold traded at US$ 1,818.10/oz, up by 0.33%.
Brent oil traded slight lower at US$ 72.99/bbl, down 0.57%, while Crude oil fell by around 1.03% to US$ 68.50/bbl.
Currency News
The Canadian Dollar was weak against the US Dollar on Tuesday, while USD/CAD closed at 1.2614, up 0.10%.
The US Dollar reported marginal gains against the basket of major currencies on Tuesday to close at 92.66, up 0.01%.
Money Market
The US 10-year bond yield surged 2.10% in Tuesday’s trade and closed in green at 1.307.
The Canada 10-year bond yield also witnessed strong momentum and closed at 1.218, soared 2.96%.
