TSX Flat at Finish


It was an up-and-down day for stocks in Toronto, as heavy losses in tech issues threatened to override gains in resource issues.

The TSX Composite fell just short of breakeven, 5.14 points, to conclude Thursday at 21,525.93

The Canadian dollar dipped 0.10 cents at 73.57 cents U.S.

Among tech stocks, HUT 8 Mining shed $1.13, or 10%, to $10.22, while Kinaxis Inc. lost $11.33, or 7.4%, to $142.43.

In health-care, Tilray lost six cents, or 2.6%, to $2.23, while Sienna Senior Living let go of 26 cents, or 2%, to $13.10.

In communications, Quebecor dipped 76 cents, or 2.4%, to $31.16, while Rogers Communications gave up 51 cents to $59.75.

Energy pumped things up a bit, with Topaz Energy climbing $1.11, or 5.5%, to $21.46, while Paramount Resources hiked 94 cents, or 3.1%, to $31.28.

In gold stocks, Torex Gold Resources tallied $1.02, or 6.3%, to $17.20, while Eldorado Gold added 61 cents, or 4%, to $16.02.

In materials, Dundee Precious Metals jumped 45 cents, or 4.6%, to $10.20, while Osisko Mining nosed ahead 11 cents, or 4.2%, to $2.76.

ON BAYSTREET

The TSX Venture Exchange swooned 7.06 points, or 1.2%, to 568.28.

Seven of the 12 subgroups were negative by the close, with information technology stocks fumbling 2.8%, while health-care and communications each lost 1.1%.

The five gainers were led by gold, up 1.1%, energy, ahead 1%, and materials, inching up 0.2%>

ON WALLSTREET

Stocks fell for a second session Tuesday, as steep declines in major tech names such as Apple dragged the broader market further from record highs recently reached.

The Dow Jones Industrials plunged 404.64 points, or 1%, to close Tuesday at 38,585.19.

The S&P 500 dropped 52.3 points, or 1%, to 5,078.65.

The NASDAQ sank 267.92 points, or 1.7%, to 15,939.59, as technology stocks felt the brunt of the market’s drop.

Apple slipped almost 3% on the back of a report from Counterpoint Research that found iPhone sales plunged in China in the first six weeks of 2024.

Several other mega-cap technology stocks including Netflix and Microsoft shed more than 2%, while Tesla slipped more than 3%. The S&P 500’s information technology sector led the broad index down with a drop of more than 2%.

Outside mega-cap tech, GitLab tumbled more than 20% after the software company posted a weak forecast for the full year.

Beyond tech, Target jumped 12% after holiday-quarter earnings came in stronger than Wall Street forecasted. AeroVironment rallied almost 28% following a better-than-anticipated quarterly report and outlook from the defense company.

Prices for the 10-year Treasury bounced, lowering yields to 4.14% from Monday’s 4.22%. Treasury prices and yields move in opposite directions.

Oil prices lost 56 cents to $78.18 U.S. a barrel.

Gold prices surged $12.10 to $2,138.40.



Source link

About The Author

Scroll to Top