By Ketki Saxena
Investing.com -- The TSX declined in thin trading, as US markets remained closed for the Juneteenth national holiday.
The commodity-heavy Canadian index was pressured by falling crude prices which declined on worries of reduced demand as the Chinese economy slowers. Numerous banks have cut their targets on China's 2023 GDP growth after data from the world's second-largest economy showed that the post-Covid rebound was slower than expected.
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Enbridge Inc (TSX:ENB). has been ordered by a U.S. judge to pay over US$5 million in Line 5 profits to an Indigenous band in Wisconsin, along with relocating the contentious cross-border pipeline within the next three years.
President and CEO of Canaccord Genuity (TSX:CF) Group Dan Daviau, revealed that a proposed $1.1 billion management buyout plan was ultimately abandoned last week when no extension for regulatory approvals was granted beyond the June 13 deadline.
Celestica (TSX:CLS) saw shares rise after TD (TSX:TD) Cowen increased its target price on the electronics company's shares.
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Statistica Canada reported that the Industrial Product Price Index saw a month-over-month decrease of 1% in May, while it stood at 6.3% lower compared to May 2022. The Raw Materials Price Index meanwhile witnessed a monthly decline of 4.9% and an annual drop of 18.4% year over year.