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TSX Midday Stock Market Movers

Published 2022-04-11, 11:58 a/m
Updated 2022-04-11, 12:01 p/m
© Reuters

© Reuters

By Ketki Saxena 

Investing.com  – At 11:45 p.m in Toronto, the S&P/TSX Composite Index was at 21,762.41 points, down 111.94 points or 0.51% in the day's trading.  

Canada’s commodity heavy index was driven lower by the energy sector, which was down 2.22% at time of writing. The subindex tracked crude oil prices lower on continued concerns about China’s COVID-19 lockdowns, and a coordinated release of strategic reserves in order to mitigate supply concerns related to the Russia-Ukraine conflict.  Over the next 6 months, IEA member nations will release 60 million barrels from reserves. The United States will also be releasing another record 180 million barrels, as announced in March.

Tech also led the TSX lower, with Clean Tech down 2.32% and Info-Tech down 0.47%, as rising yields in both the U.S. and Canada affected growth stocks. Shares of Canadian e-commerce giant Shopify (TSX:SHOP), however, bucked the trend to gain 0.79% today after the announcement of a 10-for-1 split of its class A and class B stock. 

Financials (0.07%), Materials (-0.48%), Health Care (-0.86%), Industrials (-0.57%), Utilities (-1.16%), Real estate (-0.90%) and REITs (-1.07%) were also in the red as of midday. Telecom (+0.02%)  Consumer Discretionary (0.06%) and Consumer Staples (0.22%) were the only TSX subindexes in the green. 

OceanaGold Corporation (TSX:OGC), (+3.58%), Telus Corp (TSX:T) (+1.58%), Keyera Corp . (TSX:KEY) (+1.42%), Primo Water Corp (TSX:PRMW) (+1.34%) and Centerra Gold (TSX:CG) (+1.29%) were amongst the biggest gainers, while Ero Copper (TSX:ERO) (-6.62%), Boralex Inc (TSX:BLX) (-6.05%), MTY Food Group Inc (TSX:MTY) (-5.70%), MEG Energy Corp (TSX:MEG)(-5.41%), and Northland Power Inc . (TSX:NPI) (-4.90%) were amongst the biggest losers on the TSX as of midday today.

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