Canada's Stocks Gained as Oil and Gas, Software, Banks Rally
Canada's stocks advanced amid a rally in oil & gas, banks, software, transportation and telecommunication services.
The $S&P/TSX Composite index(.SPTSX.CA$ gained 0.3% to close at 21,871.96, while the blue-chip $S&P/TSX 60 Index(.TX60.CA$ rose 0.45% to 1,313.41.
About 724 stocks advanced, while 1,39 declined, data tracked by moomoo showed. $Suncor Energy Inc(SU.CA$ and $Cenovus Energy Inc(CVE.CA$ were among the biggest gainers in the oil & gas industry after the recent rally in commodities improved companies' earnings prospects.
In the banking sector, the rally was led by $Royal Bank of Canada(RY.CA$ , $Bank of Montreal(BMO.CA$ and $The Toronto-Dominion Bank(TD.CA$.
Metals & mining stocks retreated led by $Newmont Corp(NGT.CA$, $Barrick Gold Corp(ABX.CA$ and $Agnico Eagle(AEM.US$ as gold declined. The precious metal pulled back after five weekly gains that sent prices to a new record. Tensions between Israel and Iran eased, weakening the case for owning haven assets.
Disclaimer: This article is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, orrisk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo Senior News and Community Manager
Posts and columns do not represent the views of MM. They’re not investment advice.
1556Followers
11Following
3653Visitors
Follow