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TSX Declines; Trans Mountain Pipeline Route Change Approved

Published Sep 26, 2023 14:27
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By Ketki Saxena

Investing.com -- Canada's main stock index tracked Wall Street lower today as Treasury yields continued to hold near their highest levels since 2007, and as the threat of a government shutdown and weak US economic data, including consumer confidence and new home sales, weighed on risk sentiment.

The commodity-heavy TX was also pressured by metal prices on concerns over China's property sector as Evegrande shares continued to tumble.

Crude prices meanwhile traded on a moderately positive note as worries of tight supply outweighed concerns of a slowing global economy.

Canadian Stock Market News

Activist investor Engine Capital, which has previously pushed for changes at Parkland Corp (TSX:PKI). now recommends the company allocate a total of around $800 million for share buybacks in 2024 and 2025, in order to take advantage of the stock's undervaluation.

For earnings, view our earnings calendar.

Canadian Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • West Fraser Timber (TSX:WFG)
  • MEG Energy Corp (TSX:MEG)
  • Canadian Natural Resources (TSX:CNQ)

Top Losers on the TSX Today:

  • Westshore Terminals (TSX:WTE)
  • SSR Mining (NASDAQ:SSRM)
  • Dye & Durham

For all Canadian Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

The Canada Energy Regulator announced that it has approved Trans Mountain Corp.'s application to modify the pipeline's route.

For all Canadian economic releases, view our economic calendar.

All currencies CAD, unless stated otherwise.

TSX Declines; Trans Mountain Pipeline Route Change Approved
 

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