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TSX Rallies; Suncor Announces Job Cuts; Toronto Home Prices Increase

Stock Markets
Published Jun 02, 2023 14:20
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By Ketki Saxena

Investing.com -- The TSX tracked Wall Street higher today, tracking Wall Street higher as investor confidence was boosted by congressional approval of the US debt ceiling. The commodity heavy Canadian index was also supported by gains in crude, as the passage of the US debt ceiling deal helped risk aversion abate, and as higher than expected jUS ob growth raised the outlook for the commodity. 

The Biggest Stories on Bay Street

Suncor Energy (TSX:SU) announced plans to eliminate approximately 1,500 positions by year-end with the goal of streamlining expenses and enhancing financial performance.

BRP (TSX:DOO) shares fell after TD (TSX:TD) Securities turned bearish on the towards power sport vehicle produce

Lundin Mining (TSX:LUN) Corp shares meanwhile rose after TD raised their outlook from "hold" to "buy"

Canadian Stocks Moving Markets Today

Top Gainers: 

  • HudBay Minerals (TSX:HBM)
  • Baytex Energy Corp (TSX:BTE)
  • Headwater Exploration Inc (TSX:HWX)

Top Losers: 

  • OceanaGold (TSX:OGC)
  • Torex Gold (TSX:TXG)
  • SilverCrest Metals (TSX:SIL)

In Canadian Economics

Home prices in the Greater Toronto Area (GTA) continue to rise, with May marking the fourth consecutive month of gains, according to data released by the Toronto Regional Real Estate Board.

The average price of a GTA home reached nearly CAD1.2m ($892,193), a 3.7% increase from April, while sales rose 24.7% on an annual basis and were up 20% from April. Mew listings meanwhile rose 10.1% in May compared to April. 

TSX Rallies; Suncor Announces Job Cuts; Toronto Home Prices Increase
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Jim Tolton
Jim Tolton Jun 22, 2023 15:20
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what a joke. The average price of a GTA home reached nearly CAD1.2m ($892,193), a 3.7% increase from April, while sales rose 24.7% on an annual basis and were up 20% from April. Mew listings meanwhile rose 10.1% in May compared to April.
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