The Canadian market continued Friday's momentum at the market open on Monday as the S&P/TSX Composite Index gained 1.03 per cent during the trading session and closed at 19,258.32 points.
The energy sector in Canada surged by 4.7 per cent. Meanwhile, the utilities, base metals, and financial sectors gained 0.9 per cent, 1.9 per cent, and 0.7 per cent.
One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (June 27). Analysis by © 2022 Kalkine Media®
As the energy sector gained significant momentum, Athabasca Oil Corporation (TSX:ATH) recorded the highest volume as 24.23 million ATH shares exchanged hands on the Toronto Stock Exchange. The price of the ATH stock surged by 2.5 per cent, an indicator that could mean that investors were buying the stock.
Suncor Energy (TSX:SU) also attracted traction as its price increased by 3.2 per cent, and 13.1 million SU shares traded hands on the primary Canadian stock exchange.
Wall Street Update
The stock markets in the US declined on Monday as the NASDAQ Composite Index fell 0.7 per cent to 11,524.55 points. The S&P 500 declined by 0.3 per cent and closed at 3900.11 points.
The Dow Industrials decreased by 62.42 points and ended the trading session at 31,438.26 points. Meanwhile, Russell 1000 tumbled by 0.3 per cent.
The gold prices continued to decline on June 27. It was down by 0.3 per cent to US$ 1,824.8 per troy ounce. Meanwhile, the Brent Crude gained 1.74 per cent to US$ 115.09 a barrel.
Notably, the Crude Oil WTI Futures also increased by 3.6 per cent to US$ 110.3 per barrel.
The CAD/USD was up 0.14 per cent to 0.7763, and the CAD/EUR was down by 0.03 per cent to 0.7334. The US Dollar Index Futures tumbled 0.3 per cent to 103.78.