Market Summary Article

S&P/TSX Composite Index

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S&P/TSX Venture Composite Index

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TSX Fairly Flat at Close

Stocks in Toronto seesawed between gainers and losers, as much uncertainty remained as to the political future of U.S. President Donald Trump, and whether his story about an imminent trade with China was realistic.

The S&P/TSX index bulled its way ahead 6.11 points to close Thursday at 16,790.40

The Canadian dollar sank 0.07 cents at 75.34 cents U.S.

In the metals sector, the stock worst off proved to be First Quantum, shellacked $1.26, or 10.9%, to $10.33. Elsewhere, Turquoise Hill Resources was down three cents, or 4.5%, to 64 cents.

Gold got rocked, too, as Eldorado Gold suffered a loss of 45 cents, or 4.1%, to $10.53. Iamgold lost 17 cents, or 3.3%, to $4.97.

Among energy issues, Baytex Energy slumped 10 cents, or 4.5%, to $2.12, while Enerplus ditched 43 cents, or 4.1%, to $9.99

Utilities tried to lift up the index at the other end, as units of Brookfield Infrastructure Partners heated up $1.95, or 3.1%, to $65.52. Elsewhere, Canadian Utilities gathered 54 cents, or 1.4%, to $39.45.

Real-estate issues also showed some promise, as Brookfield Property Partners LP gained 49 cents, or 1.8%, to $27.16, while units of Artis REIT popped 22 cents, or 1.8%, to $12.78.

In the industrial sector, Exchange Income Corp. saw its shares prosper $1.02, or 2.5%, to $41.31. Finning International climbed 58 cents, or 2.5%, to $23.45.

On the economic slate, Statistics Canada reported that non-farm payroll employees earned an average of $1,027 per week in July, up 0.5% from the previous month.

On a year-over-year basis, earnings improved 2.7%.


The TSX Venture Exchange faded 3.55 points to 574.83

Seven of the 12 Toronto subgroups ended the day in the red, materials taking the brunt of the damage, off 1.2%, gold dulling in price 0.8%, and energy down 0.7%

The five gainers were led by utilities, ahead 1.1%, while real-estate strengthened 0.5%, and industrials picked up 0.4%.


Stocks fell on Thursday as traders monitored the latest trade developments and assessed a whistleblower complaint against President Donald Trump that was released.

The Dow Jones Industrials came off its lows of the afternoon, but still fell short 79.59 points to 26,891.12

The S&P 500 dipped 7.25 points to 2,977.62. For the week, the index was on pace for its second straight weekly drop.

The NASDAQ Composite fell 47.62 points to 8030.66

Chip stocks led the way lower. Micron Technology, which is scheduled to release its latest quarterly figures after the bell, dropped nearly 1.7%.

Shares of large-cap tech companies such as Facebook, Amazon, Netflix and Alphabet all traded lower.

Stocks hit their session lows after Bloomberg News reported, citing a source, that the U.S. is unlikely to extend a temporary waiver that allows U.S. companies to sell supplies to Huawei, a Chinese telecommunications giant.

The market turned slightly higher after China's foreign Minister Wang Yi said the U.S. has shown good will by waiving tariffs and China is willing to buy more American products.

The whistleblower said in the complaint that Trump received information from U.S. officials that the president used his office to solicit interference from a foreign country ahead of the 2020 election.

Investors will hear more about the complaint when the acting director of National Intelligence, Joseph Maguire, testifies before the House Intelligence Committee.

The complaint raises more questions about Trump's political future as the House of Representatives launched an impeachment inquiry against Trump.

Prices for the benchmark 10-year U.S. Treasury hiked, lowering yields to 1.70%, from Wednesday's 1.73%. Treasury prices and yields move in opposite directions

Oil prices gained six cents to $56.55 U.S. a barrel.

Gold prices picked up 70 cents to $1,511.60 U.S. an ounce.

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