TSX Holds on for Positive Finish

Stocks in Toronto held onto their gains Friday, ending the week on a positive note as energy gains narrowly overrode losses in gold.

The TSX ended Friday up 17.9 points, to 20,758.34, a gain of 44 points, or 0.2%, on the week.

The Canadian dollar let go of 0.48 cents at 74.61 cents U.S.

Energy led gainers, with Precision Drilling taking on $3.12, or 3.3%, to $98.87, while Parex Resources assumed 68 cents, or 3.1%, to $22.98.

In consumer discretionary stocks, Canada Goose Holdings flew $3.52, or 14.1%, to $28.52, while Gildan Activewear triumphed $1.07, or 2.6%, to $41.74.

In consumer staple stocks, Primo Water gained 29 cents, or 1.4%, to $21.00, while Alimentation Couche-Tard acquired 97 cents, or 1.6%, to $60.20.

Gold put a brake on the rally, though, with Equinox Gold floundering 38 cents, or 6.4%, to $5.55, while OceanaGold dumped 13 cents, or 4.6%, to $2.68.

In … Read more

Missing older workers ‘weigh on economy’s growth potential’

The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of the Bank of England has warned.

About half a million workers left their jobs over the pandemic with no plans to return to work. Some of the rise was caused by the ageing of the population, which meant a greater share of workers reaching retirement age, but the trend was mainly driven by older workers aged between 50 and 64 who retired early, or were forced to resign due to long-term sickness.

“A number of these people say they are unlikely to come back into the labour market,” Andrew Bailey said after the central bank’s decision to raise interest rates yesterday. “This significant and lingering fall in the labour supply weighs on the UK economy’s potential.”

Unemployment is close to historic lows but it is not because more people … Read more

TSX Falls Just Short of Breakeven

Markets in Toronto finished Thursday pretty much where they’d completed Wednesday’s trading day, as metals and gold losses trumped gained in tech and real-estate

The TSX finished slightly in the red, 10.61 points, to close Thursday at 20,740.44.

The Canadian dollar dropped 0.22 cents at 75.11 cents U.S.

Gold took the brunt of the change of mind by investors, as Torex Gold shed $1.26, or 6.7%, to $17.66, whjile OceanaGold took on 18 cents, or 6%, to $2.81.

In materials, First Quantum lost $2.11, or 6.9%, to $28.58, while Hudbay Minerals chucked 42 cents, or 5.5%, to $7.24.

Energy got bruised, as Precision Drilling swooned $8.30, or 8%, to $95.57, while Pason Systems lost 74 cents, or 4.7%, to $14.88.

Tech stock tried to right things, as HUT 8 Mining took on 31 cents, or 10.8%, to $3.19, while Shopify Inc. hiked $3.97, or 5.9%, to $70.76.

In real-estate, Tricon … Read more