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TSX Trades Flat; Canada Services PMI Contracts; Bank of Canada Awaited

Published 2023-12-05, 02:17 p/m
Updated 2023-12-05, 02:17 p/m
© Reuters.

By Ketki Saxena – The TSX closed in the red today, while Wall Street traded on a mixed note, as economic data from the US came in mixed.

JOLTS data showed US job openings in October dropped to their lowest level since early 2021, indicating a cooling labour market. US Services activity meanwhile ticked higher in November.

Market sentiment also remained cautious ahead of non-farm payrolls, another key employment report likely to provide further insight into the Fed’s policy path moving forward. Canadian investors meanwhile will await a decision tomorrow by the Bank of Canada, where the Canadian central bank is widely expected to keep rates on hold.

Toronto Stock Market News

North West Company (TSX:NWC) shares rose to the top of the TSX after RBC (TSX:RY) raised its price target on the stock.

Royal Bank of Canada (TSX:RY) has been hit with a $7.4-million penalty by Canada's financial intelligence agency, FINTRAC. The fine is related to violations for non-compliance with rules for anti-money laundering and terrorist financing.

AltaGas (TSX:ALA) announced a dividend increase to $1.19 per share Tuesday. The company has also upped its guidance for the upcoming year, projecting a normalized earnings per share range of $2.05 to $2.25 and EBITDA between $1.68 billion and $1.78 billion.

For earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • Northwest Healthcare Properties REIT (TSX:NWH_u)
  • Nuvei (TSX:NVEI)
  • Sleep Country Canada Holdings Inc (TSX:ZZZ)

Top Losers on the TSX Today:

  • Tilray (TSX:TLRY)
  • Torex Gold Resources Inc (TSX:TXG)
  • IAMGold (TSX:IMG)
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For all Toronto Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

The S&P Global Canada services headline PMI came in at 44.5 in November, marking the lowest reading since June 2020. A reading under 50 indicates a contraction.

For all Canadian economic releases, view our economic calendar.

All currencies Canadian Dollar unless noted otherwise.

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