TSX rebounds 2% but posts 7th straight weekly loss, tech & loonie gain

May 13, 2022 05:30 PM EDT

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Sundeep Radesh

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Sundeep Radesh - Research Editor
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TSX rebounds 2% but posts 7th straight weekly loss, tech & loonie gain — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

The TSX Composite Index snapped its six-day losing streak that began May 5, after it rebounded 400.76 points, 2.03 per cent, back over 20,000 points, Friday, May 13. However, it was the seventh straight week in the red for the benchmark index after it posted a weekly loss of 2.59 per cent.

Energy was up about four per cent Friday and tech gained over six per cent. The healthcare sector rose over four per cent and every sector ended in the green as the index ended at 20,099.81. Lightspeed Commerce’s LSPD stock rose 31.3 per cent.

Volume actives

Manulife Financial Corporation saw 16.1 million shares traded, making it the most active stock. It was followed by Enbridge Inc that saw over 15.6 million shares switch hands, and Western Energy Services Corp saw 11.6 million shares traded.

Movers and laggards

Wall Street updates

Wall Street too had a day in the green. The Dow was up 466.36 points, 1.47 per cent, to 32,196.66 points, while the S&P 500 surged 93.81 points, 2.39 per cent, to 4,023.89 points. Nasdaq’s benchmark grew 434.04 points, 3.82 per cent, to 11,805.00.

Commodities update

Gold lost 0.9 per cent to US$ 1,808.20. The price of Brent oil gained 3.82 per cent and was at US$ 111.55/bbl and that of crude oil was up 4.11 per cent to US$ 110.49/bbl.

Currency news

The loonie gained 1.04 per cent compared to the US dollar while USD/CAD ended at 1.2908. The US Dollar Index was at 104.56 against the basket of major currencies, down 0.27 per cent.