By Ketki Saxena
Investing.com – Canada’s main stock index, the S&P/TSX Composite Index traded in the red by midday, despite opening positive. Wall Street also traded on a muted note as rising Treasury yields weighed on rate-sensitive stocks, and as investors await commentary from a slew of Fed speakers this week.
The commodity-heavy Canadian index was also pressured by falling metal prices as gold prices slipped.
Crude prices meanwhile rose after Saudi Arabia and Russia reiterated their commitment to extend production cuts for the rest of the year.
Toronto Stock Market News
Nutrien (TSX:NTR) shares fell after brokerage JP Morgan (NYSE:JPM) downgraded the stock to “neutral” from “overweight.”
Organigram Holdings Inc shares soared after the company announced a $124.6 million investment from British American Tabacco (BAT (LON:BATS)). BAT already holds an 18.8% stake in Organigram.
Brookfield Asset Management (TSX:BAM) reported distributable earnings per share of $0.35, compared to distributable earnings per share of $0.32 a year ago. Revenue came in at $893M, compared to $831M this time last year. Brookfield also announced that it had raised US$26 billion in the third quarter and remained on track for $150 billion in new capital this year.
For earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today
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For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics
Data from the Ivey Purchasing Managers Index (PMI) showed the index above the 50 threshold for the third consecutive month, rising to 53.4 from 53.1 in September. A reading below 50 indicates a contraction.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.