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TSX in the Red on Last Trading Day of Year; Shaw, Rogers, Quebecor Soar

Published 2022-12-30, 11:25 a/m
© Reuters.
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By Ketki Saxena 

Investing.com – The TSX traded in the red this morning, tracking Wall Street lower on the last trading day of 2022. 

The Canadian benchmark is down 8.4% this year but helped by its commodities bent, has still managed to outperform US benchmarks. The S&P 500 index is down by over 19.2% this year, while the Nasdaq is down 33%. 

Crude meanwhile managed to eke out a gain today as investors await signs of renewed demand from China in the new year.

The Biggest Stories on Bay Street 

At the very end of the year, we finally have a resolution to the long-drawn-out antitrust case opposing the merger of Rogers Communications Inc (TSX:RCIa). and Shaw Communications Inc. The federal antitrust commissioner failed to prove that the deal would cause significant harm to competition in the industry, the Competition Tribunal said in a summary of its ruling, and is “not likely to result in materially higher prices” the court ruled late last night. 

Canadian Stocks Moving Markets at Midday 

Top Gainers: 

  • Shaw 
  • Rogers 
  • Quebecor 

Top Losers

  • Capstone Mining 
  • Labrador Iron Ore 
  • First Quantum Minerals 

In Canadian Economics 

No major Canadian economic data

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