TSX hits all-time high as OSFI allows banks to restart dividend hikes

November 04, 2021 12:27 PM EDT | By Sundeep Radesh
 TSX hits all-time high as OSFI allows banks to restart dividend hikes
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

A new record. Another gain of 77.03 points Thursday, November 4, saw it reach a new all-time high of 21,342.13 points. Energy was up about one per cent and industrials about 0.64 per cent giving the index a gain of 0.36 per cent. The other sectors, however, were in the red.

After the Fed said it would begin tapering its bond-buying program, the superintendent of financial institutions said banks can restart raising dividends and share buybacks, which were embargoed since March 2020.

One-year price chart (November 4). Analysis by Kalkine Group

Volume active

Enbridge Inc was, by far, the most traded stock with 29.74 million shares exchanging hands, followed by Manulife Financial Corporation where 13.45 million shares exchanged hands, and Cenovus Energy Inc saw 10.87 million shares exchanging hands.

Movers and laggards

 

Ticker

Company Name

1-day Price % Change

Top-5 Gainers

TOY

Spin Master Corp

14.6%

PRMW

Primo Water Corp

11.9%

MFI

Maple Leaf Foods Inc

11.6%

LAC

Lithium Americas Corp

10.1%

GIL

Gildan Activewear Inc

6.8%

Top-5 Laggards

LSPD

Lightspeed Commerce Inc

-27.6%

NVEI

Nuvei Corp

-6.9%

GSY

goeasy Ltd

-6.4%

BB

BlackBerry Ltd

-6.3%

CTS

Converge Technology Solutions Corp

-4.2%

Wall Street update

On Wall Street, the main indices rose as trade opened Thursday, before dipping but rising back again before close. Nasdaq grew 128.72 points, 0.81 per cent, to 15,940.31 points and the S&P 500 rose 19.49 points, 0.42 per cent, to 4,680.06 points -- both record highs. The Dow fell 33.35 points, a marginal 0.09 per cent, to 36,124.23 points.

Commodity update

Gold was up 1.68 per cent and traded at US$ 1,793.50. Brent oil fell 1.77 per cent to US$ 80.54/bbl, while crude oil fell 2.54 per cent to US$ 78.81/bbl.

Currency news

The loonie was down 0.53 per cent against the US dollar on November 4, while USD/CAD ended in the green at 1.2455.

The US Dollar Index had a green day against the basket of major currencies Thursday and ended at 94.32, up 0.49 per cent.

Money market

Thursday saw the US 10-year bond yield fall 4.6 per cent and end at 1.530.

The Canada 10-year bond yield also fell 4.61 per cent on November 4 and ended at 1.654.


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