Today on the TSX and in the Canadian Economy By


© Reuters

By Ketki Saxena – At the close In Toronto, the stood at 20,633.28 points, down 0.30% in the day’s trading.

Losses on the TSX were widespread as North American equities continued their decline as risk sentiment began to dominate the market again, after a brief respite following the Federal Reserve’s rate hike decision on Wednesday.

While losses were heaviest in the interest-rate sensitive technology sector (-2.01%), all TSX sectors except energy, utilities and telecommunications , were in the red at the close today.

Martinrea International Inc. . (TSX:) (+14.61%), Trisura (TSX:) (+10.75%) and Kinaxis (TSX:) (+7.10%) were among the biggest moves on the TSX today , while Shopify (TSX:) (-8.22%), Aritzia Inc. (TSX:)(-6.70%), and IGM Financial Inc. . (TSX:) (-6.70%) were among the biggest losers.

Enbridge (TSX:) (+2.17%), Manulife Financial (TSX:) (+0.28%) and Cenovus Energy (TSX:) (+1.58%) were among the most traded stocks on the TSX today.

Top earners on the TSX today include Enbridge, which reported a 4.3% rise in earnings in the first quarter of 2022 as higher oil and gas prices boosted demand for the vast network of pipelines in the company.

In bonds and currencies

Yields continued to climb today as economic data from the US and Canada appeared to bolster the prospect of aggressive monetary policy tightening from the Bank of Canada as well as the Federal Reserve.

Benchmark 10-year Government of Canada bond yields were higher at 3.058%, while 5-year bond yields were 2.893%.

The pair was up 0.53% today at C$1.2900 against the greenback.

In the Canadian economy

Key economic data in Canada included a Statistics Canada Labor Force Survey, for total, including self-employment. Employment was little changed in April after two consecutive months of growth. The unemployment rate fell 0.1% to 5.2%, and the average hourly wage rose 3.3% year over year.

The Ivey Purchasing Managers’ Index today showed that Canadian economic activity grew at a slower pace in April. On a seasonally adjusted basis, the index fell to 66.3 in April from a record high of 74.2 in March, but was still above the April 2021 figure of 60.6.


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