The S&P/TSX Composite index reversed early session losses to close slightly higher at 21,885 on Thursday, as support from commodity-linked equities outweighed investor pessimism related to delayed expectations of Fed rate cuts. Both crude oil benchmarks and bullion prices rose, lifting the energy and materials sectors by an average of 0.72% and 1.98%, respectively, offsetting declines in all seven other major sectors. Among top performers, Teck Resources’ shares soared by 8.7% after surpassing revenue expectations for the first quarter of 2024. Additionally, Ivanhoe Mines gained 4.9%, followed by Barrick Gold up 3.1%, Tourmaline Oil up 3%, and Arc Resources up 2.3%. Meanwhile, accelerating core PCE inflation in the US fueled hawkish sentiments. Additionally, disappointing earnings reports from companies like Meta and IBM further weighed on investor sentiment, dragging the tech sector down by an average of 1.7%. Shopify lost 2.7%, followed by CGI Inc and Celestica, each down 2%.
The main stock market index in Canada (TSX) increased 927 points or 4.42% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Canada. Historically, the Canada Stock Market Index (TSX) reached an all time high of 22380.16 in April of 2024. Canada Stock Market Index (TSX) - data, forecasts, historical chart - was last updated on April 26 of 2024.
The main stock market index in Canada (TSX) increased 927 points or 4.42% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Canada. The Canada Stock Market Index (TSX) is expected to trade at 21752.51 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20555.49 in 12 months time.