The TSX Composite Index fell for the sixth day in a row as it lost 138.20 points, 0.7 per cent, to 19,699.05 Thursday, May 12. Tech, however, gained 1.8 per cent and healthcare was up 3.8 per cent.
All the other sectors were in the red including energy, down 1.3 per cent, and financials 1.6 per cent. Base metals lost 2.1 per cent as a bearish sentiment seems to continue with speculation of a recession becoming part of the narrative. Dye & Durham’s DND stock spiked 13.1 per cent.
One-year price chart (May 12). Analysis by © 2022 Kalkine Media®
Enbridge Inc saw 19.4 million shares traded, making it the most active stock. It was followed by Manulife Financial Corporation that saw over 18.6 million shares switch hands, and Cenovus Energy Inc saw 8.4 million shares traded.
Movers and laggards
Wall Street updates
On Wall Street, inflation still seems to be part of the narrative. The Dow ended lower by 103.81 points, 0.33 per cent, to 31,730.30 points, while the S&P 500 was down 5.1 points, 0.13 per cent, to 3,930.08 points. Nasdaq’s benchmark grew 6.73 points, 0.06 per cent, to 11,370.96.
Gold lost 1.57 per cent to US$ 1,824.60. The price of Brent oil fell 0.06 per cent and was at US$ 107.45/bbl and that of crude oil was up 0.4 per cent to US$ 106.13/bbl.
The loonie lost 0.39 per cent compared to the US dollar while USD/CAD ended at 1.3044. The US Dollar Index was at 104.78 against the basket of major currencies, up 0.9 per cent.
The US 10-year bond yield fell 2.38 per cent to 2.855 and the Canada 10-year bond yield was down 3.43 per cent to 2.901.