TSX Trumpets Sharp Gains Yet Again

Stocks in Toronto kept the ball rolling, so to speak, Wednesday, repairing some of the damage after several days of sharp declines with yet another steep rise.

The S&P/TSX Composite spiked 145.18 points, to end Wednesday at 21,070.05.

The Canadian dollar gained 0.54 cents at 77.92 cents U.S.

Energy shares powered the rise Wednesday, with Vermilion Energy jumping 81 cents, or 5.4%, to $15.93, while Crescent Point Energy picked up12 cents, or 2% to $6.10.

In real-estate, Altus Group climbed $1.53, or 2.2%, to $69.73, while units of Boardwalk REIT acquired $1.18, or 2.2%, to $54.42.

In resource issues, Capstone Mining gained 16 cents, or 3.1%, to $5.33, while Hudbay Minerals advanced 22 cents, or 2.5%, to $8.87.

Health-care stocks had a rough go of it Wednesday morning, weighed by pot producers Canopy Growth, which fell 42 cents, or 3.4%, to $12.06, while Cronos Group, let go of 13 cents, … Read more

Stocks Emerge from Losing Streak – Big Time!

The major averages rebounded sharply on Tuesday following three days of losses amid fears about the fast-spreading COVID omicron variant.

The Dow Jones Industrials popped 560.54 points, or 1.6%, to conclude Tuesday at 35,417.77, helped by gains in Nike and Boeing.

The S&P 500 index leaped 81.21 points, or 1.8%, to 4,649.23, as nine of the 11 sectors registered gains.

The NASDAQ spiked 360.14 points, or 2.4%, at 15,341.09.

Reopening plays, like airlines, cruise lines and entertainment stocks, saw some relief buying on Tuesday. Delta Air Lines rose 5.9%, United Airlines gained 6.9% and Carnival Corp. added 8.7%. Las Vegas Sands surged 8.4%. Boeing rallied 5.9%.

Micron shares surged more than 10% after the memory-chip maker posted much better than expected earnings for the prior quarter and gave bullish guidance. NXP Semiconductors and Advanced Micro Devices gained 1.8% each.

Nike shares jumped more than 6% after the sneaker maker reported … Read more

Stocks Pummeled on Omicron Worries

Markets in Toronto fell on Monday as energy shares dropped after crude prices weakened, with sentiment dented further by concerns that surging cases of the Omicron coronavirus variant might curb global economic recovery.

The S&P/TSX Composite plummeted 200.97 points, or 1.7%, to close Monday at 20,538.22.

The Canadian dollar faded 0.24 cents at 77.27 cents U.S.

Health concerns were hit hardest, particularly Canopy Growth, walloped $1.11, or 9%, to $11.27, while Tilray was bruised 65 cents, or 6.3%, to $9.60.

Among industrials, Ballard Power Systems pointed downward $1.16, or 7%, to $15.51, while Bombardier lost 10 cents, or 6.2%, to $1.52.

In real-estate, Colliers International Group docked $6.72, or 3.6%, to $179.07, while Dream Office REIT units handed over 77 cents, or 3.2%, to $23.05.

Gold stocks had an easier time of it, with Kirkland Lake Gold hiking $1.26, or 2.4%, to $52.61, while Yamana Gold acquired five cents, or … Read more