Investing.com –- Canada’s main stock index, the S&P/TSX tracked Wall Street higher today, as investors bought the dip in chip and mega cap stocks, after economic data earlier this week pushed back expectations of rate cuts from the Fed and weighed on rate-sensitive tech stocks.
Heavyweight energy and material stocks meanwhile capped gains on the TSX, as investors continue to worry about slowing commodities demand following weak Chinese data.
Investing Pro Subscribers are the first to receive breaking news, analyst upgrades, and best buy ProPick recommendations. For an extra 10% discount, use Coupon: Canada2024.
Don’t miss the New Year’s sale, for up to 60% off. Only until Jan 31.
Toronto Stock Market News
Fortuna Silver Mines (TSX:FVI) shares dropped to the bottom of the TSX after the company reported its annual production forecast, and announced that its 2023 silver production saw a 15% decline to 5.9 million oz.
Birchcliff Energy (TSX:BIR) shares were the second worst performers on the TSX after the company slashed its quarterly dividend in half, and lowered its output forecast for 2024 on the back of lower commodity prices.
Aritzia (TSX:ATZ) announced that the Toronto Stock Exchange has approved its plan to repurchase 5%, or to up to 3.5 million, of its issued and outstanding common shares over the course of a one-year period.
Dye & Durham Ltd (TSX:DND) announced plans to raise $126 million by selling stock at $12.10 per share - roughly a 7% discount to yesterday’s closing price.
Shopify (TSX:SHOP) received a downgrade from BNP Paribas (EPA:BNPP), but also had some good news, as an analyst at Barclays (LON:BARC) increased his price target by nearly $20 per share.
For earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today
Top Gainers on the TSX Today:
Top Losers on the TSX Today:
For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics
No Major Canadian Economic data due.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.