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The Toronto Stock Exchange’s composite index fell for the fourth consecutive day on Tuesday, August 17, amid rising Delta variant cases.
Impacted the spike in COVID-19 cases across several Asian economies, oil and other commodity prices remained under pressure. As a result, the base metal sector fell 3.12%, while energy and industrials sectors noted sharp declines as well.
The losses were partially offset by some gains in the utilities and telecom sectors.
In the end, the S&P/TSX Composite Index traded 0.59% or 119.83 points lower to settle at 20,363.59 on Tuesday.
Technical Price Chart (as on August 17, 2021). Source: Refinitiv, Analysis by Kalkine Group
Most Active Stocks
Etrion Corporation, Manulife Financial Corporation and Kinross Gold Corporation were among the most actively traded stocks on the Toronto Stock Exchange, with daily traded volume of 13.82 million, 12.42 million and 9.57 million, respectively.
Movers and Laggards
Wall Street Update
The global benchmark indices of the Wall Street traded in red on Tuesday. The price dominated Dow Jones settled 0.79% lower at 35,343.28, the S&P 500 index traded 0.71% to 4,448.08, and the technology benchmark index of Nasdaq Composite settled 0.93% lower at 14,656.2, respectively.
Commodity Update
Gold futures traded 0.11% lower at US$ 1,787.80/oz.
Brent Oil price losses extended for the fourth executive day, declined 0.69% to US$ 69.03/bbl and WTI Crude oil traded 1.04% lower at US$ 66.59/bbl respectively.
Currency News
The Canadian Dollar stood low against the US Dollar for the second trading session, while USD/CAD closed at 1.2630, up 0.46%.
The US Dollar index continued its second-day rally against the basket of major currencies on August 17 and ended in green at 93.14, up 0.55%.
Money Market
The US 10-year bond yield was weak on Tuesday’s trade and corrected 0.13% at 1.267.
The Canada 10-year yield also lost 0.86% on August 17 and closed at 1.155.
