TSX Charges Higher into Green Territory


Equities in Toronto kept their winning streak alive Wednesday, with resource stocks leading the charge.

The TSX Composite hiked 139.09 points to wind up Wednesday at 21,970.11.

The Canadian dollar eked higher 0.11 cents at 74.23 cents U.S.

Materials proved the star among winning subgroups, with First Quantum skyrocketing $1.59, or 12.1%, to $14.80, while Lundin Mining jumped $1.12, or 9.7%, to $12.73.

Gold stocks also soared, with Equinox Gold popping 37 cents, or 5.8%, to $6.81, while Torex Gold Resources advanced 70 cents, or 4%, to $18.10.

In energy stocks, Tamarack Valley Energy captured 10 cents, or 2.9%, to $3.58, while MEG Energy leaped 83 cents, or 2.9%, to $29.86.

Communications clicked the other way, though, as Quebecor dropped 82 cents, or 2.6%, to $30.88, while BCE faltered 62 cents, or 1.3%, to $48.19.

In utilities, Northland Power slid 63 cents, or 2.7%, to $22.66, while Boralex hesitated 48 cents, or 1.7%, to $28.54.

In real-estate issues, CAP REIT skidded 73 cents, or 1.5%, to $47.74, while Granite REIT capsized $1.04, or 1.4%, to $74.17.

ON BAYSTREET

The TSX Venture Exchange gained 1.51 points to 555.08.

All but three of the 12 subgroups improved Wednesday, as materials flew 2.9%, gold brightened 1.9%, and energy was mightier 1.7%.

The three laggards proved to be communications, shedding 1.4%, utilities, losing 0.8%, and real-estate, lower by 0.5%.

ON WALLSTREET

The S&P 500 was lower on Wednesday, pulling back from a record reached in the previous session, as Nvidia cooled off from its red-hot rally to start 2024.

The Dow Jones Industrials improved 38.68 points to conclude Wednesday at 39,044.17

The broader index slid 9.96 points to 5,165.31.

The NASDAQ tumbled 87.87 points to 16,177.77.

Nvidia shares were down 1.1%. Shares of Meta and Apple fell marginally. Elsewhere, Dollar Tree lost 14% after the discount retailer released its fourth-quarter results. Investors will get more inflation data Thursday in the form of the producer price index for February.

Wall Street is coming off a winning session, with S&P 500 and NASDAQ popping more than rallied more than 1% on Tuesday, after February U.S. inflation data came in about in line with expectations.

Investors will get more inflation data Thursday in the form of the producer price index for February.

Prices for the 10-year Treasury lost ground, boosting yields to 4.19% from Tuesday’s 4.15%. Treasury prices and yields move in opposite directions.

Oil prices jumped $2.20 to $79.76 U.S. a barrel.

Gold prices spiked $11.80 to $2,117.90.



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