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The TSX Composite Index, the benchmark index of the Toronto Stock Exchange, traded lower for the second straight day and declined 0.34% or 55.43 points to 16,455.40 on Wednesday. The index traded at a Price-to-Earnings (PE) multiple of 17.85x and offering a dividend yield of 3.57%.
S&P/TSX Venture Composite Index traded 0.42% higher at 733.64.
TSX Composite index traded below its five-day simple moving average (SMA). However, it settled well above its 10-day, 20-day, 30-day, 50-day, and 200-day SMAs. Leading momentum indicator – the 14-day and 9-day relative strength index – hovered in neutral zone and tilted towards overbought zone.
One-Year Technical Price Chart (as on October 14, 2020, after the market close). Source: EODHD/Others (Thomson Reuters).
The Moving Average Convergence Divergence (MACD) hovered above its nine-day SMA, and the difference between 12-day and 26-day EMAs is positive.
On Wednesday trading session, shares of Toronto-Dominion Bank, Kinross Gold Corporation, and Suncor Energy Inc emerged as the volume leaders.
Fortuna Silver Mines Inc, Eldorado Gold Corp, and Seabridge Gold Inc were the top gainers on TSX and up by 5.1%, 4.9% and 4.8%, respectively.
Trillium Therapeutics Inc, Aurora Cannabis Inc, and MEG Energy Corp are among the top laggards on the TSX Composite Index and traded lower by 5.3%, 4.9% and 4.7%, respectively.
Commodity & Forex*
On Wall Street, the benchmark indices extended losses for the third consecutive days. The Dow Jones Industrials declining 0.90% lower at 28,158.0, the S&P 500 index traded 0.31% lower at 16,455.40, and the technology benchmark Nasdaq Composite Index traded 0.80% lower at 11,768.73, respectively.
Gold future pared some losses of the previous trading session and traded 0.67% higher at US$ 1,899.15/oz.
The Brent Oil traded 2.05% higher at US$ 43.32/bbl and Crude WTI oil traded 2.09% higher at US$ 41.04/bbl.
Canadian Dollar loses some ground against the US Dollar and USD/CAD traded at 1.3145. However, Dollar Index traded lower against the basket of majors at 93.43, vs 93.53 yesterday.
*After the market close (as on October 14, 2020)
