Strong Start for TSX Tuesday
Equities in Canada’s largest centre blew out of the starting blocks on Tuesday, aided by gains in mining and technology stocks, although concerns around soaring inflation and a global slowdown capped their gains. The SP|TSX galloped 216.65 points or 1.1%, to begin trading Tuesday at 20,423.06 The Canadian dollar jumped 0.14 cents at 77.96 cents U.S. RBC raised the target price on Emera Inc. to $72.00 from $66.00. Emera shares began Tuesday up 30 cents to $62.98. CIBC cut the target price on Royal Bank of Canada to $146.00 from $149.00. RBC shares sprang $1.88, or 1.5%, to $128.77. CIBC cuts target price on Toronto-Dominion Bank to $100.00 from $103.00. TD shares acquired $1.17, or 1.3%, to $93.31. On the economic slate, Statistics Canada reported foreign investors acquired $46.9 billion of Canadian securities in March, the largest investment since April 2020. At the same time, Canadian investors reduced their holdings of foreign securities by $24.0 billion, following a $9.9-billion divestment in February.
Strong Start for TSX Tuesday
Equities in Canada’s largest centre blew out of the starting blocks on Tuesday, aided by gains in mining and technology stocks, although concerns around soaring inflation and a global slowdown capped their gains. The SP|TSX galloped 216.65 points or 1.1%, to begin trading Tuesday at 20,423.06 The Canadian dollar jumped 0.14 cents at 77.96 cents U.S. RBC raised the target price on Emera Inc. to $72.00 from $66.00. Emera shares began Tuesday up 30 cents to $62.98. CIBC cut the target price on Royal Bank of Canada to $146.00 from $149.00. RBC shares sprang $1.88, or 1.5%, to $128.77. CIBC cuts target price on Toronto-Dominion Bank to $100.00 from $103.00. TD shares acquired $1.17, or 1.3%, to $93.31. On the economic slate, Statistics Canada reported foreign investors acquired $46.9 billion of Canadian securities in March, the largest investment since April 2020. At the same time, Canadian investors reduced their holdings of foreign securities by $24.0 billion, following a $9.9-billion divestment in February.