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On Wednesday, March 9, the TSX Composite Index bounced back by 261.20 points, 1.23 per cent, to
21,493.23. While energy fell 3.5 per cent, the financial sector that constitutes nearly 32 per cent of Canada’s benchmark index rebounded 2.1 per cent.
This is the highest closing of the index since Russia invaded Ukraine on February 24. Notable was technology’s surge of 6.22 per cent with tech stocks dominating the day’s gainers list. All other major sectors were in the green.
One-year price chart (March 9). Analysis by © 2022 Kalkine Media®
Volume actives
Suncor Energy Inc saw 27.4 million shares traded, making it the most active stock. It was followed by Athabasca Oil Corporation that saw over 14.5 million shares switch hands, and Baytex Energy Corp saw 12 million shares traded. All three closed in the red.
Movers and laggards
Wall Street update
Wall Street too saw a resurgence. The Dow was up 653.61 points, two per cent, to 33,286.25 points, while the S&P 500 spiked 107.18 points, 2.57 per cent, to 4,277.88 points. The Nasdaq Composite gained 460.00 points, 3.59 per cent, to 13,255.55.
Commodities update
Gold fell 2.7 per cent to US$ 1,988.20. Oil prices fell sharply. The price of Brent oil fell 13.16 per cent and was at US$ 111.14/bbl and that of crude oil was down 12.16 per cent to US$ 108.70/bbl.
Currency news
The loonie gained 0.59 per cent compared to the US dollar while USD/CAD ended at 1.2804. The US Dollar Index was at 97.97 against the basket of major currencies, down 1.1 per cent.
Money market
The US 10-year bond yield was up 6.03 per cent to 1.951 and the Canada 10-year bond yield was up 4.39 per cent to 1.903.
