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TSX Clears Breakeven

Baystreet - Tue Aug 23, 2022
Equities in Canada’s largest centre managed to surmount the closing level of the day before, as energy gain, just managed to overcome weakness in financial and health-care stocks.

The TSX gained 10.43 points to close Tuesday to 19,985.35.

The Canadian dollar recovered 0.55 cents to 77.18 cents U.S.

Financials were in the spotlight for the wrong reasons, as Scotiabank slid $4.26, or 5.3%, to $76.52, while Sun Life dipped $1.12, or 1.9%, to $59.52.

In health-care issues, Bausch Health Companies descended 47 cents, or 6.5%, to $6.81, while Aurora Cannabis docked five cents, or 2.7%, to $1.83.

In tech companies, Quarterhill lost three cents, or 1.6%, to $1.87, while Shopify ditched $1.10, or 2.6%, to $42.15.

Energy stocks tried to even things out, as Precision Drilling hiked $4.06, or 5%, to $85.61, while MEG Energy triumphed 89 cents, or 5.3%, to $17.85.

In materials, Lundin Mining picked up 58 cents, or 8.5%, to $7.39, while Hudbay Minerals acquired 51 cents, or 9.5%, to $5.86.

Among gold stocks, Equinox Gold advanced 13 cents, or 2.7%, to $5.01, while Iamgold Corporation was seven cents, or 4.3%, to the better, at $1.71.


The TSX Venture Exchange rumbled 10.66 points, or 1.7%, to close Monday at 653.36

Eight of the 12 TSX subgroups were lower, as financials and health-care were each down 1.2%, and information technology fell 1.1%.

The four gainers were energy, up 3%, materials better by 2.7%, and gold soaring 1.2%.


The Dow Jones Industrial Average fell Tuesday following its worst day since June as investors braced for a hawkish message from the Federal Reserve.

The blue-chip index faded 154.02 points to close Monday at 32,909.58.

The S&P 500 stepped back 9.26 points to 4,128.73.

The NASDAQ Composite sank 0.27 points to 12,381.30.

Health care, real estate and utilities were the worst performers in the S&P 500. Meanwhile, energy was the biggest winner in the broader market index, up 4% on the back of rising oil prices.

Zoom Video shares slumped 15% after the video conferencing company lowered its full-year forecast.

Traders are coming off a downbeat session, as a summer rally fizzled out amid mounting rate hike concerns

The Commerce Department reported sales of new homes tumbled in 12.6% in July, bringing the sales count to a seasonally adjusted annualized rate of 511,000.

Treasury prices lost ground, lifting yields to 3.06% from Monday’s 3.03%. Treasury prices and yields move in opposite direction.

Oil prices tallied $3.26 to $93.62 U.S. a barrel.

Gold prices jumped 12 dollars to $1,760.40 U.S. an ounce.

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