A concise overview of the day's financial market activity, highlighting key stock movements, trends, and major events. Stay updated on market performance and critical shifts that impact your investments.
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended down 143.08 points or 0.58% at 24,573.62, about 20 points off the day's low of 24,453.40. The index remained in negative territory right through the day's session. Macro Update: The Canadian central bank cut rates by a half point today, as widely expected, reducing its target for the overnight rate by 50 basis points to 3.75%, with the Bank Rate at 4% and the deposit rate at 3.75%. The Canadian central bank's decision to continue lowering rates came as consumer price inflation has declined significantly from 2.7% in June to 1.6% in September. Top Movers: Seabridge Gold (SEA.TO) lost nearly 6.5%. Cameco Corporation (CCO.TO), Trisura Group (TSU.TO), Premium Brands Holdings Corporation (PBH.TO), TFI International (TFII.TO) and Shopify Inc (SHOP.TO) …
Image Souce: Krish Capital Pty Ltd Index Update: Following a shaky start and a further dip to lower levels, the Canadian market gradually recovered on Tuesday before settling modestly lower. The benchmark S&P/TSX Composite Index ended down 6.63 points or 0.03% at 24,716.70. Macro Update: Data from Statistics Canada showed industrial producer prices in Canada fell by 0.6% over a month in September, following a revised 0.9% decline in the prior period. On a yearly basis, producer prices fell by 0.9% in September, after a 0.2% rise in the prior month. Top Movers: Healthcare stock Tilray Inc (TLRY.TO) gained about 7.3%. Seabridge Gold (SEA.TO), up 6%, was the biggest gainer in the Materials index. Sandstorm Gold (SSL.TO) climbed 5.7%. Ssr Mining (SSRM.TO), First Majestic Silver (AG.TO), Pan American Silver Corp (PAAS.TO), Triple Flag …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market rose to a new record high Monday morning but retreated soon and stayed weak right through the session. The benchmark S&P/TSX Composite Index, which hit a new record high at 24,922.92 in early trades, ended the session with a loss of 99.21 points or 0.4% at 24,723.33. Macro Update: The Canadian central bank is widely expected to reduce its key policy rate by 50 basis points, marking its fourth cut in a row. Top Movers: RB Global (RBA.TO) climbed 6.6%. Hut 8 Corp (HUT.TO) ended nearly 6% up. Brookfield Renewable Corporation (BEPC.TO) and MAG Silver Corp (MAG.TO) gained about 5% and 4.7%, respectively. Magna International (MG.TO), goeasy (GSY.TO), Teck Resources (TECK.A.TO), BRP Inc (DOO.TO), Cargojet (CJT.TO) and Stella-Jones (SJ.TO) …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market rose to a new record high Monday morning but retreated soon and stayed weak right through the session. The benchmark S&P/TSX Composite Index, which hit a new record high at 24,922.92 in early trades, ended the session with a loss of 99.21 points or 0.4% at 24,723.33. Macro Update: The Canadian central bank is widely expected to reduce its key policy rate by 50 basis points, marking its fourth cut in a row. Top Movers: RB Global (RBA.TO) climbed 6.6%. Hut 8 Corp (HUT.TO) ended nearly 6% up. Brookfield Renewable Corporation (BEPC.TO) and MAG Silver Corp (MAG.TO) gained about 5% and 4.7%, respectively. Magna International (MG.TO), goeasy (GSY.TO), Teck Resources (TECK.A.TO), BRP Inc (DOO.TO), Cargojet (CJT.TO) and Stella-Jones (SJ.TO) ended lower by …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market climbed to a new record high on Friday, rising for a third straight day, thanks to strong gains in materials stocks as metal prices surged to record highs. The benchmark S&P/TSX Composite Index, which marched to a new intra-day high at 24,850.15, settled with a gain of 132.06 points or 0.53% at 24,822.54, a new closing high. Macro Update: In U.S. economic news, the Commerce Department released a report showing a modest pullback by housing starts in the month of September. The Commerce Department said housing starts fell by 0.5 percent to an annual rate of 1.354 million in September after spiking by 7.8 percent to a revised rate of 1.361 million in August. Top Movers: The Materials Capped …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market climbed to a fresh record high on Thursday with stocks from materials and energy sectors moving higher on firm commodity prices. The benchmark S&P/TSX Composite Index, which surged to 24,561.20, settled with a gain of 129.28 points or 0.53% at 24,690.48. Macro Update: Data showing an unexpected increase in U.S. retail sales, and a drop in U.S. jobless claims contributed as well to the positive mood in the market. Top Movers: Onex Corporation (ONEX.TO) gained about 3.6%. GFL Environmental (GFL.TO), RB Global (RBA.TO), Cameco Corporation (CCO.TO), Imperial Oil (IMO.TO), Boyd Group Services (BYD.TO), Franco-Nevada Corporation (FNV.TO) and Senvest Capital (SEC.TO) climbed 1.5 to 3%. Our Stance: From a technical analysis perspective, the index is currently trading above its 50-period …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which climbed to a high of 24,603.11, settled at 24,561.20 with a gain of 122.12 points or 0.5%. Macro Update: Data from Canada Mortgage & Housing Corporation said housing starts in Canada increased by 5% over a month to 223,808 units in September. Data from Statistics Canada showed manufacturing sales in Canada decreased by 1.3% month-over-month in August, following a downwardly revised 1.1% rise in July. Another data from Statistics Canada said car registrations in Canada decreased to 168,620 units in August from 169,327 units in July. Top Movers: The Utilities Capped Index climbed 2.19%. Brookfield Renewable Partners (BEP.UN.TO) soared 9.6%. Brookfield Infra Partners (BIP.UN.TO), Innergex Renewable Energy (INE.TO) and Boralex Inc (BLX.TO) gained 3.8 to 4.6%. …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended down 32.09 points or 0.13% at 24,439.08. The index, which dropped to 24,357.87 recovered to 24,479.22 before paring gains. Macro Update: Data from Statistics Canada said the annual inflation rate in Canada fell to 1.6% in September from 2% in the previous month, the lowest since February 2021. The consumer price index decreased 0.4% in September over the previous month. The annual core inflation rate in Canada ticked up to 1.6% in September from a 3-1/2-year low of 1.5% in the prior month. On a monthly basis, core consumer prices were flat, after falling by 0.1% in the prior month. Top Movers: The Energy Capped Index tumbled 4.79%. Baytex Energy (BTE.TO), International Petroleum Corp (IPCO.TO), Kelt …
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