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While it can’t truly be called a recovery compared to Friday’s loss of 2.25 per cent, the TSX Composite Index did end in the green Monday, November 29, and that should come as good news amid the Omicron Covid variant scare. It gained 0.11 per cent.
Energy was up 1.3 per cent and the base metals sector gained nearly three per cent. Lithium Americas Corp was the day’s biggest gainer, up 15.6 per cent. The financial sector fell 0.5 per cent and healthcare lost 2.1 per cent to land the index 23.10 points higher from yesterday’s close to 21,149 points.
Canada’s benchmark index began the month at 21,037.07 points and November saw it reach its all-time high of 21,796.16. So, despite Friday’s losses, it has still gained 112 points this month.
One-year price chart (November 29). Analysis by Kalkine Group
Volume actives
Suncor Energy Inc saw 24.48 million shares traded, making it the most active stock and it was followed by Enbridge Inc that saw 12 million shares switch hands and Canadian Natural Resources Limited saw 9.12 million shares traded.
Movers and laggards
Wall Street trade skyrockets after Biden says Omicron ‘not a cause for panic’
There still isn’t much confirmed about the Omicron variant and that was something President Joe Biden tapped at Monday as he implored that it is “not a cause for panic.” Wall Street’s main indices were able to recover some of Friday’s falls. It began trade continuing to plummet but around 11:00 am ET began to skyrocket right until close.
The Dow recovered 236.6 points, 0.68 per cent, to 35,135.94 points and the S&P 500 was up 60.65 points, 1.32 per cent up from Friday’s close, to 4,655.27 points. Nasdaq gained 291.18 points, 1.88 per cent, to 15,782.83.
Gold and oil prices rebound
Gold too recovered 0.96 per cent to US$ 1,799.45. Crude was again down two per cent, but it had recovered 4.74 per cent Sunday, November 28, so in the end it had gained 2.74 per cent from Friday’s close to US$ 69.95/bbl. Brent oil too was down 1.46 per cent to US$ 73.44/bbl but had risen 2.49 per cent Sunday.
Currency news
The loonie dipped by a mild 0.1 per cent Monday while USD/CAD was 1.2738. The US Dollar Index gained against the basket of major currencies, up 0.14 per cent to close at 96.34.
Money market
The US 10-year bond yield was down 1.89 per cent Monday to 1.502 and the Canada 10-year bond yield was up 0.56 per cent to 1.614.
