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 


Company Name 

1-day Price % Change  

Top-5 Gainers 


Canfor Corp 



Air Canada 



Aurora Cannabis Inc 



Bausch Health Companies Inc 



Magna International Inc 


Top-5 Laggards 


New Gold Inc 



Spartan Delta Corp 



Arc Resources Ltd 



Nuvista Energy Ltd 



Crescent Point Energy Corp 


 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. 


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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