Stocks Flat By Finish| MENAFN.COM

Tuesday, 27 September 2022 09:34 GMT

Stocks Flat By Finish


(MENAFN- Baystreet.ca) Stocks Flat by Finish
Canopy, Saputo in Focus








Equities in Canada's largest market waxed and waned most of Monday, before coming to rest at pretty much the same spot at which they'd closed Friday, as gains in health-care concerns were negated by weakness in energy issues,
The TSX inched up 0.79 points to close Monday at 20,180.60.
The Canadian dollar faltered 0.76 cents to 77.47 cents U.S.
Cannabis concerns posted the best results Monday, as Canopy Growth skyrocketed 77 cents, or 18.4%, to $4.95, while Aurora Cannabis took on 21 cents, or 9.4%, to $2.44.
In consumer stocks, BRP advanced $3.35, or 3.3%, to $103.92, while Dollarama grabbed $2.11, or 2.7%, to $81.36.
Saputo grew 71 cents, or 2.1%, to $34.11, while Primo Water shot ahead 27 cents, or 1.5%, to $18.35.
Energy stocks held things back a bit, as MEG Energy settled 71 cents, or 4%, to $16.95, while Headwater Explorations lost 22 cents, or 3.5%, to $5.99.
In materials, Ivanhoe stepped back 40 cents, or 4.4%, to $8.60, while Capstone Copper handed over 15 cents, or 4.4%, to $3.26.
In gold stocks, Centerra Gold lost 27 cents, or 4.1%, to $6.35, while New Gold parted with four cents, or 3.8%, to $1.02.
On the economic calendar, June wholesale sales rose 0.1% to $80.7 billion. This growth was attributable to increases in the miscellaneous goods and motor vehicle and motor vehicle and motor vehicle parts and accessories subsectors.
Elsewhere, Statistics Canada said manufacturing sales fell 0.8% in June, mainly on lower sales of petroleum and coal products and of wood products. Excluding the petroleum and coal product industry, sales rose 0.5% in June.
The Canadian Real Estate Association reported national home sales fell by 5.3% on a month-over-month basis in July.
ON BAYSTREET
The TSX Venture Exchange faded 1.99 points to 678.50.
The 12 TSX subgroups were evenly split by the close, with health-care leaping 4.7%, consumer discretionary hiking 1.2%, and consumer staples up 0.9%.
The half-dozen laggards were weighed by energy, backpedaling 1.5%, materials, down 1.2% and gold, duller in price by 0.5%.
ON WALLSTREET
U.S. equities rose on Monday as the rally on Wall Street looked to continue and traders prepared for a big week for retail earnings.
The Dow Jones Industrials sailed higher 151.39 points to close Monday at 33,881.75.
The Dow closed above its 200-day moving average for the first time since April.
The S&P 500 gained 16.99 points to 4,297.14.
The S&P 500 is coming off its fourth straight one-week gain, marking the benchmark's longest winning streak since 2021 after economic data showed inflation pressures could be easing a bit. The Nasdaq and Dow also rose last week.
The NASDAQ Composite picked up 80.87 points, or to 13,128.05.
Monday's moves come after disappointing economic data out of China overnight. The country's central bank also cut rates unexpectedly, raising concern over China's economic recovery.
Stocks opened the session lower, led by declines in energy and financials, before rebounding into positive territory. Consumer staples, communication services and consumer discretionary moved higher, while Tesla pulled technology into positive territory. Disney gained on news of hedge fund manager Dan Loeb's stake.
Investors are looking ahead to a week of earnings from big retailers including Home Depot, Walmart and Target, and listening for clues on how their businesses have been affected by inflation and other macro challenges in the most recent quarter.
Treasury prices were up, lowering yields to 2.80% from Friday's 2.84%. Treasury prices and yields move in opposite direction.
Oil prices tumbled $3.18 to $88.91 U.S. a barrel.
Gold prices fell $19.70 to $1,795.80 U.S. an ounce.










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