TSX on 3-day red streak ahead of expected interest rate hike, oil down

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TSX on 3-day red streak ahead of expected interest rate hike, oil down

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 TSX on 3-day red streak ahead of expected interest rate hike, oil down
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For the third day in a row, the TSX Composite Index fell, losing 0.73 per cent, 138.6 points, to 18,678.64, Tuesday, July 12.  

Healthcare was the only major sector that gained, up 2.2 per cent. Energy lost 3.4 per cent and base metals 1.5 per cent. 

On Wednesday, it is widely expected that the Bank of Canada will raise the interest rate by 75 basis points.  

New Gold Inc lost 26.4 per cent as commodity stocks were among the day’s biggest laggers. Oil prices saw a significant fall. 

 

One-year price chart (July 12). Analysis by © 2022 Kalkine Media® 

Volume actives  

The Toronto-Dominion Bank saw 14.7 million shares traded, making it the most active stock. It was followed by New Gold Inc that saw 7.5 million shares switch hands, and Suncor Energy Inc saw 7.2 million shares traded. 

Movers and laggards 

Ticker  

Company Name 

1-day Price % Change  

Top-5 Gainers 

CFP 

Canfor Corp 

7.2% 

AC 

Air Canada 

5.2% 

ACB 

Aurora Cannabis Inc 

5.1% 

BHC 

Bausch Health Companies Inc 

4.9% 

MG 

Magna International Inc 

4.3% 

Top-5 Laggards 

NGD 

New Gold Inc 

-26.4% 

SDE 

Spartan Delta Corp 

-6.3% 

ARX 

Arc Resources Ltd 

-6.2% 

NVA 

Nuvista Energy Ltd 

-5.0% 

CPG 

Crescent Point Energy Corp 

-4.7% 

 Wall Street updates 

On Wall Street, the Dow was down 192.51 points, 0.62 per cent, to 30,981.33 points, and the S&P 500 plunged 35.63 points, 0.92 per cent, to 3,818.8 points. Nasdaq’s benchmark sank 107.87 points, 0.95 per cent, to 11,264.73. 

Commodities  

Gold was down 0.4 per cent to US$ 1,724.80. The price of Brent oil plummeted 6.8 per cent and was at US$ 99.12/bbl and that of crude oil was down 8.48 per cent to US$ 94.41/bbl. 

Currency news 

The loonie lost 0.12 per cent compared to the US dollar while USD/CAD was at 1.3021. The US Dollar Index was at 108.21 against the basket of major currencies, up 0.04 per cent. 

Money market 

The US 10-year bond yield was down 0.74 per cent to 2.971 and the Canada 10-year bond yield was down 1.68 per cent to 3.213. 

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