By Ketki Saxena
Investing.com –- Canada’s main stock index, the S&P/TSX Composite fell to a near four week low today, tracking Wall Street lower as hotter than expected December US retail sales data further dampened hopes of early rate cuts from the Fed.
The commodity heavy Canadian index was also pressured by crude and metals prices, following weak Chinese data that raised worries of slowing demand for commodities in the world’s second largest economy.
Investing Pro Subscribers are the first to receive breaking news, analyst upgrades, and best buy ProPick recommendations. For an extra 10% discount, use Coupon: Canada2024.
Don’t miss the New Year’s sale, for up to 60% off. Only until Jan 31.
Toronto Stock Market News
Rogers announced the departures of two board members, Melinda Rogers-Hixon and Martha Rogers, as part of a private settlement between Rogers family members. The two women had previously opposed moves by their brother, Edward Rogers, to gain greater control over the board.
Pan American (TSX:PAAS) Silver shares fell after it announced preliminary production figures for 2023 that rose 11% from the year prior, but missed its forecasted guidance. Pan American’s silver output for 2023 came in at approximately 20.4 million ounces.
Logistics and warehousing company Mullen Group (TSX:MTL) Ltd. announced that it has signed a letter of intent to buy logistics company ContainerWorld Forwarding Services. Financial terms of the agreement have not yet been made available.
For earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today
Top Gainers on the TSX Today:
Top Losers on the TSX Today:
For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics
Data from Statistics Canada showed that Canada’s Industrial Product Price Index fell 1.5% month over month in December and was 2.7% lower than December 2022.
The Raw Materials Price Index meanwhile declined 4.9% month over month in December 2023 and was down 7.9% year over year.
A separate report from Statistics Canada showed Canadian investors purchased $12.5 billion of foreign securities in November, while foreign investors acquired $11.4 billion of Canadian securities.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.