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TSX, Crude Reverse Morning's Gains; Resources Stocks Lead Losses

Stock Markets Sep 26, 2022 10:22
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By Ketki Saxena 

Investing.com - As broad-based risk sentiment dominated on worries of further aggressive moves from global central banks, the S&P/TSX Composite index reversed the morning's gains towards the close of the North American session, tracking a reversal in oil prices which sank again to 9-month lows. 

The Biggest Stories on Bay Street 

Scotiabank’s president and chief executive Brian Porter will be retiring at the end of January. He will be replaced by Finning International CEO Scott Thomson, who is also a current board member at Scotiabank (TSX:BNS).

As part of a consortium led by former Berkshire Hathaway Inc . (NYSE:BRKa) executive David Sokol, Fairfax Financial (TSX:FFH) Holdings Ltd raised its offer to buy Atlas Corp to US$4.4 billion. The cash bid increased to US $15.50 from $14.45 a share, representing a  14.6% premium on Friday’s closing price.

After the closing bell, investors will be watching for Q4 earnings from Dye& Durham. The software company last week cut its forward guidance and announced it would be walking away from its proposal to acquire Australia’s Link Administration. 

Canadian Stocks Moving Markets Today

Top Gainers: 

  • Kinaxis (TSX:KXS)
  • Bausch Health (TSX:BHC)
  • Cargojet (TSX:CJT)

Top Losers: 

  • Athabasca Oil Corp (TSX:ATH)
  • Baytex Energy Corp (TSX:BTE)
  • Centerra Gold (TSX:CG)

In Canadian Economics 

Statistics Canada announced early estimates for August wholesale sales. StatsCan estimates that wholesale sales rose 0.8%, reflecting higher sales in the food, beverage and tobacco subsector. These estimates are subject to revision. 

TSX, Crude Reverse Morning's Gains; Resources Stocks Lead Losses
 

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