TSX drops 1% on BoC’s blunt end to bond-buying, loonie gains

2 min read | October 27, 2021 01:30 AM EDT | By Team Kalkine Media

TSX drops 1% on BoC’s blunt end to bond-buying, loonie gains — Image source: Copyright © 2021 Kalkine Media

Volume active

The stock that was traded the most was Algonquin Power & Utilities Corp. with 8.1 million shares exchanging hands, followed by Suncor Energy Inc where seven million shares exchanged hands, and Denison Mines Corp with 4.69 million shares exchanging hands.

Movers and laggards

Wall Street update

On Wednesday, Microsoft said they were expecting a strong performance this year considering growth in their cloud business and its stock ballooned 4.211 per cent on close, almost making a run at Apple for the company with the biggest market cap. And so, while other major indices fell the Nasdaq stayed in the green, growing 0.12 points to 15,235.84.

The other two indices fell all through the day’s trading with the S&P 500 falling 0.51 per cent or 23.11 points to 4,551.68 points. The Dow dropped 0.74 per cent or 266.19 points to 35,490.69 points.

Commodity update

Gold grew 0.3 per cent and traded at US$ 1,798.80. Brent oil fell 2.11 per cent to US$ 84.58/bbl, while crude oil dropped 2.35 per cent to US$ 82.66/bbl.

Currency news

The loonie is being called the year’s best-performing currency and as the BoC hinted at interest rate hikes in April, it rose against the US dollar on October 27, while USD/CAD ended in the red at 1.2356, down 0.26 per cent.

The US Dollar Index had a red day against the basket of major currencies Wednesday and ended at 93.90, down 0.06 per cent.

Money market

Wednesday saw the US 10-year bond yield fall 3.7 per cent and end at 1.550.

The Canada 10-year bond yield fell 1.51 per cent on October 27 and ended at 1.628.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.