(MENAFN- Baystreet) TSX Hangs in There
TSX Enjoys Only Tentative Gains
Futures Hint at Upbeat Open
Stocks Charge Ahead on Day, Week
Gains on TSX Subside Slightly Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, April 29, 2024
TSX Ends in Green Bausch, Cogeco in Spotlight
Stocks in Toronto enjoyed solid, if unspectacular, gains Monday, led by health and utility concerns.
The TSX Composite gained 42.38 points to conclude Monday at 22,011.62.
The Canadian dollar eased back 0.03 cents at 73.20 cents U.S.
Health-care led the gainers, led in turn by Bausch Health Companies, hurtling 15 cents, or 1.3%, to $12.07, while Sienna Senior Living built 13 cents, or 1%, to $13.37.
Utilities prospered, with Algonquin Power gaining 12 cents, or 1.4%, to $8.49, while Fortis Inc. gathered 65 cents, or 1.2%, to $54.03.
Communications also had a good day, with Cogeco up 36 cents to $54.65, while Rogers tacked on 20 cents to $52.07.
Real-estate dragged things down, though, with Crombie REIT units trailing 35 cents, or 2.6%, to $12.57, while Boardwalk REIT fell $1.97, or 2.7%, to $71.12.
In industrials, Atkins-Realis gave way $1.13, or 2%, to $54.52, while Boyd Group hesitated $4.45, or 1.7%, to $252.78.
Financials were also the poorer, with EQB suffered $2.26, or 2.6%, to $85.16, while Canadian Western Bank trailed 33 cents, or 1.2%, to $26.40.
ON BAYSTREET
The TSX Venture Exchange edged forward 3.51 points to 590.06.
Seven of the 12 subgroups were higher, led by health-care, better by 0.8%, utilities, surging 0.5%, and communications, stronger by 0.3%.
The five laggards were weighed most by real-estate, down 0.9% industrials, off 0.7% and financials, off 0.4%.
ON WALLSTREET
Stocks closed higher Monday, lifted by Tesla, while traders geared up for a week dominated by corporate earnings and a Federal Reserve meeting.
The Dow Jones Industrials popped 147.4 points to 38,387.06.
The S&P acquired 16.21 points to 5,116.17.
The NASDAQ improved 55.18 points to 15,981.97.
Tesla jumped more than 14% after clearing a key hurdle for full self-driving technology in China. Apple climbed around 3% on the heels of a bullish upgrade from investment firm Bernstein. But those gains were mitigated as Big Tech peers Microsoft, Alphabet, Meta and Nvidia all traded lower.
Domino's Pizza popped more than 5% after reporting earnings topped analysts' expectations Monday morning. Apple, McDonald's, Coca-Cola and Amazon are also among the major companies sharing quarterly financials this week.
Those releases come during what is shaping up to be a strong earnings season. Of the more than 46% S&P 500-listed firms that have posted results so far, about four out of every five have surpassed expectations.
Monetary policy will take center stage later in the week, with the Fed set to release its latest interest rate announcement on Wednesday.
While the central bank is widely anticipated to keep the borrowing cost unchanged, investors will still closely monitor the post announcement press conference with Chair Jerome Powell.
Prices for the 10-year Treasury advanced, dropping yields to 4.62% from Friday's 4.66%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.16 to $82.69 U.S. a barrel.
Gold prices faded 50 cents to $2,346.70.
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