Skip to main content

Meg Energy Corp(MEG-T)

Today's Change
Real-Time Last Update

Stocks Register Strong Gains to End February

Baystreet - Thu Feb 29, 3:34PM CST
Stocks north of the border recovered from the gulch in which they’d found themselves throughout the week, gold and energy stocks pointing the way up Thursday.

The TSX Composite jumped 119.84 points at 21,363.61.

The Canadian dollar regained 0.03 cents to 73.68 cents U.S.

Gold led the brigade of winners, with OceanaGold ahead 14 cents, or 6.7%, to $2.24, while Osisko Gold Royalties captured $1.13, or 6.1%, to $19.81.

In energy plays, Canadian Natural Resources hurtled higher $4.67, or 5.2%, to $94.58, while MEG Energy climbed 89 cents, or 3.2%, to $28.95.

Among materials, Lithium Americas gained 97 cents, or 15%, to $7.42, while Dundee Precious Metals soared 35 cents, or 4%, to $9.20.

Consumer staples leaned the other way, with Loblaw Companies sliding $2.65, or 1.8%, to $144.65, while North West Company fell 66 cents, or 1.6%, to $40.34.

Real-estate was also painted red, particularly, Dream Industrial REIT units, off 32 cents, or 2.5%, to $12.71, while Northwest Health-care Properties dived nine cents, or 2.2%, to $3.98.

In the health-care field, Tilray lost three cents, or 1.3%, to $2.35, while Chartwell Retirement Residences fell 19 cents, or 1.5%, to $12.16.

On the economic slate, Statistics Canada reported real gross domestic product was essentially unchanged in December, following two months of growth, despite 14 of 20 sectors increasing in the month.


The TSX Venture Exchange recovered 5.52 points, or 1%, to 560.11.

All but three of the 12 subgroups were in the plus column, with gold higher 2.9%, energy up 1.9%, and materials were better by 1.4%.

The three laggards were consumer staples stocks, down 0.6%, real-estate, down 0.3%, and health-care, off 0.1%.


The NASDAQ Composite advanced Thursday, rising to its first closing record since November 2021.

The Dow Jones Industrials struggled into the green 14.64 points Thursday at 38,963.66

The S&P 500 surged 27.51 points to 5,097.27.

The tech-heavy index recovered 134.6 points to 16,082.33.

Thursday’s session caps off February trading and a fourth straight positive month for Wall Street, despite a string of declines raising questions around the sustainability of the AI-driven rally. The NASDAQ led the pack with a 6.12% gain. The S&P 500 climbed 5.17%, while the Dow added 2.22% for its first four-month winning streak since May 2021.

Snowflake shed 18.4% after announcing the retirement of its CEO and sharing disappointing product revenue guidance. Meanwhile, Okta popped nearly 23% on strong results.

Data showed the Federal Reserve’s preferred measure of inflation was stubbornly above the central bank’s target in January, but at least didn’t exceed Wall Street forecasts. There were also signs that consumer spending remains robust.

The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge, increased by increased 0.4% for the month and 2.8% from a year ago. That matches Dow Jones estimates. Headline PCE, which includes food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, compared to respective estimates for 0.3% and 2.4%.

Prices for the 10-year Treasury inched forward, lowering yields to 4.24% from Wednesday’s 4.26%. Treasury prices and yields move in opposite directions.

Oil prices lost 29 cents to $78.25 U.S. a barrel.

Gold prices surged $9.90 to $2,052.60.

Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.

More from The Globe