Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Miners Boost TSX on First Trading Day of New Year; Energy Stocks Weigh

Published 2023-01-03, 12:15 p/m
© Reuters.
GSPTSE
-
ENRY
-

By Ketki Saxena 


Investing.com - The Canadian index tracked global stocks higher this morning, supported by its commodities bent and an uptick in gold and silver prices that helped boost mining stocks - even as Wall Street opened lower on the first day of trading in the New Year. 

Sentiment on Wall Street remained muted ahead of a week filled with macroeconomic data south of the border, including the release of the Federal Reserve’s December minutes, and US payrolls data. 

Further gains on the Canadian index were capped by a slide in crude prices, following data that showed China's factory activity shrank in December as surging COVID-19 cases continued to weigh on demand even after the wide scale rescinding of lockdown measures. 

The Biggest Stories on Bay Street 

The new year kicks off with a new twist in the Shaw - Rogers Communications (TSX:RCIa) deal. The Competition Bureau, which opposes the deal, has prevailed on a Federal Court to issue an emergency stay temporarily suspending the decision of the Competition Tribunal to dismiss the case the Bureau had brought against Rogers Inc.'s proposed $20-billion takeover of Shaw Communications Inc. 

Another twist to another long-winded dispute: this time related to First Quantum’s differences with the Panamanian government related to a copper mine in the country. The greatest point of content is a debated floor on tax payments for the`` mine – Panama wants a minimum flat fee of US$375 million annually from the company, whereas First Quantum is looking for a more flexible option.1

Canadian Stocks Moving Markets This Morning 

Top Gainers: 

  • Equinox Gold Corp (TSX:EQX)
  • Pan American Silver Corp (TSX:PAAS)
  • Kinross Gold Corp (NYSE:KGC)

Biggest Losers: 

  • Birchcliff Energy Ltd . (TSX:BIR)
  • Vermilion Energy Inc . (TSX:VET)
  • Advantage Oil & Gas Ltd. (TSX:AAV)

In Canadian Economics 

No major Canadian Economic Data

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.