TSX Index Settles Lower; Suncor Energy, Barrick Gold, Air Canada Most Traded

2 min read | August 28, 2020 11:00 PM EDT | By Team Kalkine Media

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TSX Index Settles Lower; Suncor Energy, Barrick Gold, Air Canada Most Traded

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The S&P/TSX Composite Index, the leading equity index of the Toronto Stocks Exchange, ending at 16,705.79 on Friday, down by 25.70 points or 0.15% to 16,705.79. Consumer non-cyclical and utilities sector stocks dragged the index lower, down by 2.01% and 0.96%, respectively. However, basic materials and healthcare stocks offset some of the losses and traded approximately 2.35% and 1.50% higher, respectively.

Stocks of Suncor Energy Inc., Barrick Gold Corporation, Just Energy Group Inc., Air Canada and D-Box Technologies Inc. were the most actively traded stocks on the TSX.

52-week high/low: Lightspeed POS Inc., Victoria Gold Corp., and Major Drilling Group International Inc. are among the stocks that registered a new 52-week-high on the TSX. No stocks reported a 52-week-low price during Friday’s trading session.

At Friday’s closing bell, the S&P/TSX Composite Index traded below its lower length crucial support levels of 5-day, 10-day and 20-day Simple Moving Averages (SMAs). However, the index traded above its crucial long-term and short-term support levels of 200-day and 50-day SMAs, respectively. The leading momentum indicator, 14-day Relative Strength Index (RSI) hovering in a neutral zone.

5-day S&P/TSX Composite Index Daily Price Chart. Source: EODHD/Others (Thomson Reuters).

On Wall Street: Broader indices of the Wall Street traded in positive territory on Friday, with the Dow Jones up 161.60 points or 0.57% higher at 28,653.87 and the S&P 500 index down 23.46 points or 0.67% at 3,508.01. The Nasdaq Composite Index added 70.30 points to end at 11,695 or 60% higher.

TSX Top Movers: Silvercorp Metals Ince (up 7.63%), Canadian (up 7.59%), Cineplex Inc (up 5.65%), MAG Silver Corp (up 5.47%) and First Majestic Silver Corp (up 5.19%).

TSX Bottom Movers: OceanaGold Corp (down 6.15%), Brookfield Business Partners LP (down 2.98%), Alimentation Couche-Trade Inc (down 2.58%), George Weston Ltd (down 2.58%) and Saputo Inc (down 2.52%).

Commodity Cues

Gold*: The yellow metal “Gold Futures” bagged 2.19% during the Friday trading hours to US$ 1,974.90/oz.

Oil*: International Oil benchmark index Brent oil traded 0.09% lower at US$ 45.05/bbl and WTI Crude Oil declined 0.16% to US$ 42.97/bbl.

The U.S Dollar Index gave 0.68% on Friday to 92.37, and the Canadian Dollar added 0.20% against the greenback to 0.7633.

*As on 28 August, 2020 (after markets close)

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