TSX Lukewarm Before Holiday Weekend

Activity on Canada’s main stock market was muted heading into the Christmas weekend on Friday, with investors digesting U.S. economic data that offered evidence of cooling inflation.

The TSX Composite gained 42.70 points to break for lunch Friday at 19,392.36.

The Canadian dollar recovered 0.24 cents at 73.57 cents U.S.

Among individual stocks, Superior Plus continued its rally from Thursday, gaining 5.9% after the

natural gas supplier is set to acquire Certarus Ltd for $1.05 billion including debt.

Elsewhere, Shopify proved an anchor weighing tech issues, declining $1.64, or 3.5%, to $45.62, while Lightspeed Commerce ditched 50 cents, or 2.7%, to $17.89.

In cannabis issues, Cronos Group shed 14 cents, or 3.9%, to $3.43, while Tilray lost nine cents, or 2.4%, to $3.73.

Things were cheerier for energy issues, particularly, Athabasca Oil, up 12 cents, or 5.6%, to $2.27, while Baytex climbed 29 cents, or 5.1%, to $6.01.

In metals, … Read more

USD / CAD – Canadian dollar supported ahead of GDP

– Canada’s October GDP forecast at 0.1% m/m

– US PCE data and Durable Goods Orders in focus

– US dollar opens on a mixed note, Commodity bloc outperforms

USDCAD snapshot open 1.3598-02, overnight range 1.3596-1.3657, close 1.3647, WTI $78.94, Gold $1798.82

The Canadian dollar recovered most of yesterday’s losses overnight mainly due to a modest rebound in S&P 500 futures.

FX markets are deathly quiet ahead of the Christmas holidays, year-end. Things will even be slower today because of the massive “weather bomb” that is laying waste to a large part of the US and Canada.

It will be a work from home or an outright holiday for many market participants which suggests today’s key US economic reports could have an outside impact on markets.

Fed Chair Jerome Powell’s supposedly favourite measure of inflation, the Personal Consumption Expenditure (PCE) index is expected to be unchanged at 0.3% m/m in … Read more

TSX Up on Day, Week

Stocks in Canada’s largest centre gained handsomely Friday to salvage a rather rough week, as energy and other resource stocks moved significantly higher.

The TSX Composite gained 156.99 points to finish Friday at 19,506.65. On the week, the index advanced 63 points, or 0.33%.

The Canadian dollar recovered 0.25 cents at 73.58 cents U.S.

Energy stocks were the clear winners, with Athabasca Oil picking up 20 cents, or 9.3%, to $2.35, while Baytex Energy soared 44 cents, or 7.7%, to $6.16.

In materials stocks, Capstone Mining hurtled higher 17 cents, or 3.5%, while Algoma Steel collected 31 cents, or 3.7%, to $8.68.

Utilities also fared well, with Algonquin Power and Utilities jumping 18 cents, or 2%, to $9.16, while Altagas sprinted 29 cents, or 1.3%, to $23.48.

Health-care sagged, though, with Bausch Health Companies dropping 36 cents, or 4.1%, to $8.51, while Cronos Group sank 12 cents, or 3.4%, to … Read more