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TSX Starts Week on Negative Note; Bank of Canada Decision, US NFP Data Awaited

Published Dec 04, 2023 14:30
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By Ketki Saxena

Investing.com – The TSX tracked Wall Street lower to start the week, as market sentiment remained cautious ahead of a slew of US economic data such as non-farm payrolls, that will test investors expectations of rate cuts by early next year.

Canadian investors meanwhile will await a decision by the Bank of Canada on Wednesday, where the Canadian central bank is widely expected to keep rates on hold.

The commodity heavy Canadian index was also pressured by crude prices, as investors appeared underwhelmed by the latest OPEC+ decision on supply cuts.

Toronto Stock Market News

Nuvei (TSX:NVEI) Corp shares rose after the announcement of a partnership with Microsoft (NASDAQ:MSFT), in the Middle East and Africa. Microsoft will use Nuvei’s payments technology to optimize recurring billing and individual transactions for Office and Xbox customers. The companies stated they are open to exploring new markets and use cases.

Origin Energy Ltd. rejected a US$12.8 billion takeover led by Brookfield Asset Management (TSX:BAM). AustralianSuper, Origin’s largest investor, holds 17% of the company and has opposed the offer.

Tilray (TSX:TLRY) shares gained ahead of a vote from lawmakers in Germany, where Tilray Europe is headquartered. The vote next week is on a measure that would legalize the use and cultivation of recreational cannabis.

For earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • Tilray Inc (TSX:TLRY)
  • Nuvei Corp (TSX:NVEI)
  • West Fraser Timber (TSX:WFG)

Top Losers on the TSX Today:

  • Endeavour Silver (TSX:EDR)
  • IAMGold (TSX:IMG)
  • Athabasca Oil (TSX:ATH)

For all Toronto Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

No major Canadian economic data.

For all Canadian economic releases, view our economic calendar.

All currencies Canadian Dollar unless noted otherwise.

TSX Starts Week on Negative Note; Bank of Canada Decision, US NFP Data Awaited
 

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