Stocks Surge by Monday’s Close
Equities in Canada’s largest market pulled out of the funk with which they closed the week before, thanks to gains in resource and tech issues. The TSX Composite advanced 176.5 points to conclude Monday at 19,562.38. The Canadian dollar doffed 0.11 cents to 75.31 cents. Materials were surging, especially Nutrien, up $4.80, or 4.2%, to $118.95, while First Quantum Minerals, ahead 90 cents, or 3.9%, to $24.22. Gold stocks were also on the march, as Kinross popped 48 cents, or 11.1%, to $4.82, while Sandstorm Gold took on 36 cents, or 4.5%, to $8.37. Techs were also stronger, with Absolute Software bouncing 55 cents, or 3.9%, to $14.54, while Shopify climbed $1.49, or 3.5%, to $43.65. Communications fell short of the mark, however, with Corus Entertainment dropping eight cents, or 3%, to $2.57, while Rogers fell 77 cents, or 1.4%, to $55.70. Consumer staples were bruised, as Jamieson Wellness faltered 54 cents, or 1.5%, to $35.25, while Empire Company lost 29 cents to $36.36. The Bank of Canada hiked rates to 3.25% from 2.50% earlier this month to the highest level in 14 years, and is expected to raise them by 50 basis points next week.
Stocks Surge by Monday’s Close
Equities in Canada’s largest market pulled out of the funk with which they closed the week before, thanks to gains in resource and tech issues. The TSX Composite advanced 176.5 points to conclude Monday at 19,562.38. The Canadian dollar doffed 0.11 cents to 75.31 cents. Materials were surging, especially Nutrien, up $4.80, or 4.2%, to $118.95, while First Quantum Minerals, ahead 90 cents, or 3.9%, to $24.22. Gold stocks were also on the march, as Kinross popped 48 cents, or 11.1%, to $4.82, while Sandstorm Gold took on 36 cents, or 4.5%, to $8.37. Techs were also stronger, with Absolute Software bouncing 55 cents, or 3.9%, to $14.54, while Shopify climbed $1.49, or 3.5%, to $43.65. Communications fell short of the mark, however, with Corus Entertainment dropping eight cents, or 3%, to $2.57, while Rogers fell 77 cents, or 1.4%, to $55.70. Consumer staples were bruised, as Jamieson Wellness faltered 54 cents, or 1.5%, to $35.25, while Empire Company lost 29 cents to $36.36. The Bank of Canada hiked rates to 3.25% from 2.50% earlier this month to the highest level in 14 years, and is expected to raise them by 50 basis points next week.