TSX in red for 4th straight day as BoC raises rate by 100 basis points

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TSX in red for 4th straight day as BoC raises rate by 100 basis points

 TSX in red for 4th straight day as BoC raises rate by 100 basis points
Image source: Pixabay.com

The TSX Composite Index lost for the fourth day in a row as the Bank of Canada raised the interest rate by 100 basis points, higher than the expected 75 basis points. 

Healthcare and base metals closed in the green, but all the other major sectors were in the red. The biggest losses were seen by financials and industrials, falling 1.2 per cent and 1.1 per cent, respectively. 

Over the last four days, Canada's benchmark index has lost 2.4 per cent. It closed Wednesday, July 13, down 0.34 per cent, 63.45 points, to 18,615.19.

One-year price chart (July 12). Analysis by © 2022 Kalkine Media® 

Volume actives 

The Toronto-Dominion Bank saw 9.8 million shares traded, making it the most active stock. It was followed by Athabasca Oil Corporation that saw 8.4 million shares switch hands, and Suncor Energy Inc saw 7.7 million shares traded. 

Movers and laggards 


Company Name 

1-day Price % Change  

Top-5 Gainers 


Seabridge gold Inc 



New Gold Inc 



Sleep Country Canada Holdings Inc 



Fortuna Silver Mines Inc 



OceanaGold Corp 


Top-5 Laggards 


Ritchie Bros Auctioneers Inc 



Toromont Industries Ltd 



Dye & Durham Ltd 



ATS Automation Tooling Systems Inc 



Parkland Corp 


 Wall Street updates 

US inflation has spiked to 9.1 per cent year-over-year, the highest in decades. On Wall Street, the Dow sank by 208.54 points, 0.67 per cent, to 30,772.79 points, while the S&P 500 was lowered by 17.02 points, 0.45 per cent, to 3,801.78 points. Nasdaq’s benchmark was down 17.15 points, 0.15 per cent, to 11,247.58. 


Gold was up 0.62 per cent to US$ 1,735.50. The price of Brent oil rose 0.64 per cent and was at US$ 99.75/bbl and that of crude oil was up 1.58 per cent to US$ 95.90/bbl. 

Currency news 

The loonie gained 0.38 per cent compared to the US dollar while USD/CAD was at 1.2971. The US Dollar Index was at 108.27 against the basket of major currencies, up 0.06 per cent. 

Money market 

The US 10-year bond yield was down 1.18 per cent to 2.935 and the Canada 10-year bond yield was down 1.09 per cent to 3.178. 


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