TSX lifted by rising energy stocks, Trillium & MAG top gainers

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TSX lifted by rising energy stocks, Trillium & MAG top gainers

 TSX lifted by rising energy stocks, Trillium & MAG top gainers
Image source: Copyright ©Kalkine Media 2021

Canada’s main stock index bounced back on Monday, August 23, after days of decline as weakness in the US dollar boosted commodity and oil prices.

The energy sector climbed around 3.6%, while the base metal sector jumped 2.29% amid the rising commodity prices. Additionally, the healthcare sector rose 6.15%, mainly due to the spike in Trillium Therapeutics shares after the announcement of its acquisition by Pfizer Inc.

The S&P/TSX composite index gained 138.24 points or 0.68% to settle at 20,477.26 on Monday.

 1-Year Price Chart. Analysis by Kalkine Group

Gainers and Losers

Actively Traded Stocks

Suncor Energy and Enbridge Inc were the most actively traded stocks on the TSX on Monday, with a trading volume of 9.94 million and 9.35, closely followed by Manulife Financial Corporation with 8.60 million.

Wall Street Update

US equities ended the day on a high note on Monday, with numerous counters from various sectors drawing investors.

The Dow closed the day at 35,335.71, up 215.63 points, or 0.61%, higher than the other major averages. The S&P 500 gained 37.86 points, or 0.85% to 4,479.53, while the Nasdaq Composite gained 227.99 points, or 1.55% to 14,942.65.

Commodity Update

Gold gained some positive momentum and traded at US$ 1,806.30, up by 1.47%.

Brent oil traded higher at US$ 68.75/bbl up 5.77%, while Crude oil also jumped by 5.31% at US$ 65.64/bbl.

Forex Update

The Canadian Dollar gained some grounds against the US Dollar on Monday, while USD/CAD closed at 1.2645, down 1.40%.

The US Dollar index continued to slide for the second straight session against the basket of major currencies and ended at 92.99, down 0.52%.

Money Market Update

The US 10-year bond yield slid on Monday and closed in red at 1.253, down 0.53%.

The Canada 10-year yield, on the other hand, climbed 2.23% to 1.168.

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