Key insights
- The S&P/TSX Composite in Canada closed lower, dragged down by Telecoms, Consumer Staples, and IT sectors. Telus hit a 5-year low, while Aecon Group and Bird Construction reached new highs. Rising crude oil prices and a slightly weaker US Dollar Index could offer marginal support to US equities, but the overall Canadian market weakness suggests a cautious outlook.
Investing.com – Canada stocks were lower after the close on Thursday, as losses in the Telecoms, Consumer Staples and IT sectors led shares lower.
At the close in Toronto, the S&P/TSX Composite fell 0.42%.
The best performers of the session on the S&P/TSX Composite were BlackBerry Ltd (TSX:BB), which rose 7.36% or 0.36 points to trade at 5.25 at the close. Meanwhile, Aecon Group Inc. (TSX:ARE) added 4.89% or 2.13 points to end at 45.65 and Bird Construction Inc. (TSX:BDT) was up 4.81% or 2.10 points to 45.76 in late trade.
The worst performers of the session were Telus Corp (TSX:T), which fell 6.87% or 1.20 points to trade at 16.27 at the close. Shopify Inc (TSX:SHOP) declined 6.52% or 10.84 points to end at 155.43 and Methanex Corporation (TSX:MX) was down 5.98% or 5.09 points to 80.06.
Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 573 to 411 and 63 ended unchanged.
Shares in Telus Corp (TSX:T) fell to 5-year lows; falling 6.87% or 1.20 to 16.27. Shares in Aecon Group Inc. (TSX:ARE) rose to 5-year highs; gaining 4.89% or 2.13 to 45.65. Shares in Bird Construction Inc. (TSX:BDT) rose to all time highs; rising 4.81% or 2.10 to 45.76.
The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 0.81% to 18.44 a new 1-month low.
Gold Futures for June delivery was up 0.38% or 18.20 to $4,795.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 4.31% or 4.07 to hit $98.48 a barrel, while the June Brent oil contract rose 1.83% or 1.73 to trade at $96.48 a barrel.
CAD/USD was unchanged 0.19% to 0.72, while CAD/EUR unchanged 0.11% to 0.62.
The US Dollar Index Futures was down 0.32% at 98.61.