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TSX Gains at Outset

Published 2024-05-27, 06:29 a/m
© Reuters.  TSX Gains at Outset

Baystreet.ca - Canada's main stock index started the week on an upbeat note, supported by a rise in energy and materials shares, ahead of a slew of U.S. and Canadian inflation data for clues on the timeline of interest rate cuts.

The S&P/TSX Composite Index moved up 58.16 points to 22,379.03.The Canadian dollar hiked 0.2 cents at 73.35 cents U.S. Meanwhile, the energy and materials index rose at the open, owing to higher prices of most commodities.In individual stocks, B2Gold (NYSE:BTG) collected nine cents, or 2.4%, to $3.84, while New Gold (TSX:NGD) captured seven cents, or 2.6%, to $2.76. In consumer discretionary stocks, Canada Goose (TSX:GOOS) flew 29 cents, or 1.5%, to $19.41, while Sleep Country (TSX:ZZZ) came to life 32 cents, or 1.2%, to $25.45.

Investors braced for Canada's producer prices data for the month of April, due Tuesday, along with country's first-quarter GDP figures, scheduled for Friday.In Japan, the Nikkei 225 tacked on 0.7%, while in Hong Kong, the Hang Seng index gained 1.2%. Oil prices regained 79 cents to $78.51 U.S. a barrel. Gold prices brightened $23.30 to $2,357.80 U.S. an ounce.

ON BAYSTREET The TSX Venture Exchange inched up 63 points to kick off the day and the week at 608.58. All but three of the 12 subgroups were gainers, led by materials, up 1.1%, while gold prospered 0.7%, and consumer discretionary stocks triumphed 0.6%. The three laggards proved to be consumer staples and health-care, each slumping 0.3%.

ON WALLSTREET American markets were closed Monday for Memorial Day

This content was originally published on Baystreet.ca

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