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The TSX Composite Index has arguably performed better than other indices across the globe, but with larger interest rate hikes possibly on the table and Covid-19 lockdowns in China, the index saw its biggest daily loss of 2022 Friday, April 22.
All sectors were in the red with financials and tech down 2.5 per cent and energy down almost two per cent. The 2.14 per cent loss, 464.03 points, took the benchmark index to 21,186.3 a weekly loss of 3.06 per cent. This is the fourth straight weekly loss by the TSX Composite.
One-year price chart (April 22). Analysis by © 2022 Kalkine Media®
Volume actives
Algonquin Power & Utilities Corp saw 18.9 million shares traded, making it the most active stock. It was followed by the Royal Bank of Canada that saw over 10.1 million shares switch hands, and Enbridge Inc saw 9.6 million shares traded.
Movers and laggards
Wall Street updates
Similarly, on Wall Street, the main indices closed with weekly losses. The Dow sank 981.36 points, 2.82 per cent, to 33,811.4 points Friday, while the S&P 500 was down 121.88 points, 2.77 per cent, to 4,271.78 points. Nasdaq’s benchmark decreased by 335.36 points, 2.55 per cent, to 12,839.29.
Commodities update
Gold lost 0.71 per cent to US$ 1,934.30. The price of Brent oil was down 1.55 per cent and was at US$ 106.65/bbl and that of crude oil was down 1.66 per cent to US$ 102.07/bbl.
Currency news
The loonie lost 1.05 per cent compared to the US dollar while USD/CAD ended at 1.2710. The US Dollar Index was at 101.22 against the basket of major currencies, up 0.64 per cent.
Money market
The US 10-year bond yield was down 0.11 per cent to 2.905 and the Canada 10-year bond yield was down 0.66 per cent to 2.873.
