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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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