TSX moves higher, NovaGold & Innergex top gainers

2 min read | July 02, 2021 05:30 PM EDT | By Team Kalkine Media

The S&P/TSX Composite Index closed higher on Friday, July 2, as seven out of its eight constituent sectors traded in green after the Canada Day holiday.

The TSX Venture Index, on the other hand, traded 0.80% higher at 968.39.

The broader Canadian benchmark index climbed 0.30%, or 60.53 points, to 20,226.11 on Friday, led by the strength in energy, financials and base metal sectors.

The gains, however, were offset to a certain extent by the weakness in healthcare stocks.

In terms of trading volume, Bank of Nova Scotia, Bombardier Inc. and TC Energy Corporation remained the most actively traded stocks on the TSX on Friday.

1-Year TSX Price Chart (as on June 04, 2021). Analysis by Kalkine Group

Top Movers and Laggards

Wall Street Update

Stocks on Wall Street recorded notable gains on Friday as the Labor Department reported that the pace of job growth in the US continued to accelerate in June.

Aa a result, all three main indexes in the US closed at fresh highs. The Dow rose 152.82 points to 34,786.35, the S&P 500 climbed 32.40 points to 4,352.34, and the Nasdaq advanced 116.95 points to 14,639.33.

Commodity Update

Gold continued its winning streak and traded at US$ 1,783.30, up 0.37%.

Brent Oil traded higher at US$ 76.17/bbl, up 0.44%. WTI Crude Oil, on the other hand, slipped 0.09% to US$ 75.16/bbl.

Currency News

The Canadian Dollar traded higher against the US greenback on Friday, while USD/CAD closed at 1.2319, sliding 0.94%.

The US Dollar Index slid 0.40% on Friday, closing at 92.23, after gaining for the seven straight session against the basket of major currencies.

Money Market

On Friday, the US 10-year bond yield weakened for the fifth straight session to close at 1.431, down 1.98%.

The Canada 10-year bond yield also dropped 1.01% to 1.374 on Friday.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.