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Friday, December 3, saw the TSX Composite Index have another day in the red as it fell 128.76 points, 0.62 per cent, for a third straight weekly loss to land at 20,633.27. The week saw the benchmark index diminish by 2.33 per cent. Over the past three weeks, it has sunk 5.3 per cent after a good earnings season was expected, so it’s pretty clear, the Omicron scare is to blame.
With all major sectors in the red, energy and healthcare fell over 2.5 per cent, while base metals was down 3.3 per cent. Lithium Americas Corp lost 8.7 per cent on Friday’s trade.
To be sure, the data available on Omicron is not conclusive, but the US’s chief pandemic adviser Dr. Anthony Fauci called early signals “encouraging.” South Africa, where it is believed to have emerged from, has not seen a massive surge in hospitalizations.
One-year price chart (December 3). Analysis by Kalkine Group
Volume actives
Suncor Energy Inc saw 24.24 million shares traded, making it the most active stock and it was followed by Harte Gold Corp that saw 13.81 million shares switch hands and Canadian Natural Resources Limited saw 12.66 million shares traded.
Movers and laggards
Wall Street update
South of the border too, it was a day of losses. A little after market open the major indices began to drop, losing out on gains made Thursday.
Nasdaq lost almost two per cent, 295.85 points, and fell to 15,085.47. The Dow was down 59.71 points, 0.17 per cent, to 34,580.08 points and the S&P 500 fell 38.67 points, 0.84 per cent, to 4,538.43.
Gold and brent prices gain
Gold rose 1.2 per cent to US$ 1,783.90. Brent oil was up 0.3 per cent to US$ 69.88/bbl. Crude fell 0.36 per cent to US$ 66.26/bbl.
Currency news
The loonie fell 0.27 per cent Friday while USD/CAD ended at 1.2842. The US Dollar Index was at 96.15 and saw no real change.
Money market
The US 10-year bond yield plunged 6.09 per cent to 1.356 and the Canada 10-year bond yield dropped 4.42 per cent to 1.439.
