TSX Concludes Friday Lower, but Improves on Week
The TSX Composite fell 37.38 points Friday to 19,506.13, but registered a gain of 217 points, or 1.13%, on a short week. The markets were closed Monday for Thanksgiving.
The Canadian dollar recovered 0.15 cents at 73.22 cents U.S.
Tech stocks were the worst off Friday, with Softchoice letting go of $1.20, or 7.1%, to $15.78, while HUT 8 Mining dipped 12 cents, or 4.9%, to $2.35.
In the utility sector, Brookfield Infrastructure Partners units descended $1.91, or 5.1%, to $35.73, while units of Brookfield Renewable Partners lost 92 cents, or 3.1%, to $28.85.
Real-estate issues were wounded, particularly, StorageVault Canada, which dropped 16 cents, or 3.7%, to $4.14, while units of Northwest Healthcare Properties ditched 15 cents, or 3,2%, to $4.58.
Gold provided one of the few bright spots, with Torex Gold gathering $1.10, or 8.2%, to $14.54. while Lundin Gold hiked $1.31, or 8.6%, to $16.54.
In materials, K92 Mining jumped 57 cents, or 11.8%, to $5.40, while First Majestic Silver acquired 64 cents, or 9.5%, to $7.37.
In energy, Baytex Energy gained 29 cents, or 5.1%, to $5.96, while Athabasca Oil rocketed 19 cents, or 4.6%, to $4.30.
ON BAYSTREET
The TSX Venture Exchange forged ahead 0.26 points to end the session at 529.13, skidding over the past four sessions 4.4 points or 0.83%.
Eight of the 12 TSX subgroups went south on the day, with information technology down 1.9%, utilities doffing 1.5%, and real-estate settling 1.3%.
The four gainers were led by gold, popping 3.8%, materials, better by 2.3%. and energy, surging 1.5%.
ON WALLSTREET
Stocks fell Friday, pressured by a spike in oil prices and rising inflation expectations, as Wall Street wraps up a volatile week.
The Dow Jones Industrials recovered 39.22 points to end Friday and the week at 33,670.36.
The S&P 500 index dropped 21.82 points to 4,327.79.
The NASDAQ index tumbled 166.99 points, or 1.2%, at 13,407.23. The S&P and NASDAQ put ends to four-day win streak.
The S&P 500 enjoyed a weekly gain of more than 19 points, or 0.45%, and the Dow had a weekly gain of more than 262 points, or 0.78%.
The NASDAQ was down 24 points, or 0.18%, on the week.
The major indexes came off their session highs after consumer sentiment data was released earlier Friday. According to the University of Michigan’s closely
A slew of largely positive reports from major financial firms on Friday kicked off the third-quarter earnings season. Shares of JPMorgan Chase added 1.5% and Wells Fargo rose nearly 3%, while Citigroup also edged 0.3% lower, losing earlier gains, after posting largely positive earnings. BlackRock’s shares fell 1.9% lower.
UnitedHealth Group, which has the highest price per share of any Dow stock, gained 2.4% on earnings.
Prices for the 10-year Treasury rose sharply on the day, lowering yields to 4.62% from Thursday’s 4.71%. Treasury prices and yields move in opposite directions.
Oil prices added $4.75 to $87.66 U.S. a barrel.
Gold prices were better by 59 dollars to $1,942.
Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
