Canada’s largest market stocks ended 2020 with a collective throbbing Thursday due to resource scarcity, although full-year aggregates gave investors a reason to smile.
TSX dumped 112.45 points on Thursday, ending the week, month and year at 17,433.36.
Canadian dollar rose 0.16 cents to 78.59 cents US
TSX increased by 370 points or 2.17% in 2020, but increased by 19.1% last year due to the surge in coronavirus cases and heavy restrictions.
Resources plummeted on New Year’s Eve as El Dorado Gold fell 52 cents (3%) to $ 16.89 and Yamana Gold fell 22 cents (2.9%) to $ 7.29.
Wheaton Precious Metals was down $ 1.62 (3%) to $ 22.98, while First Quantum Minerals was down 72 cents (3%) to $ 22.98.
In the energy sector, MEG energy fell 17 cents (3.7%) to $ 4.43 and tourmaline oil fell 38 cents (2.2%) to $ 17.16.
Treasury tried to balance as Element Fleet Management rose 27 cents (2.1%) to $ 13.37 and Great-West Lifeco rose 43 cents (1.4%) to $ 30.35.
In real estate, First Service rose $ 1.61 to $ 174.22 and Interrent REIT units rose 9 cents to $ 13.69.
On Bay Street
The TSX Venture Exchange rose 10.1 points (1.2%) to 875.36. This year’s profit was a staggering 298 points, or 51.6%.
All but two of the 12 TSX subgroups were low, with gold down 2.1%, materials down 1.4% and energy down 1.1%.
The two winners were finance up 0.2% and real estate up 0.03%.
On wall street
The Dow Jones Industrial Average and the S & P 500 rose to record highs on Thursday as Wall Street closed one of the most volatile years on the market in recent memory.
The 30-share index rose 196.62 points to the end of the year at 30,606.48. Intel rose 2.2%, surpassing the Dow.
The S & P 500 rose 24.03 points to 3,756.07. Financial and utilities have each progressed by more than 1% to raise the S & P 500.
NASDAQ added 18.28 points to 12,888.28.
Stocks plummeted in February and March as the COVID pandemic spread outside China. The S & P 500 suffered the fastest 30% drawdown on record.
But after bottoming out in late March, and in the unprecedented action of the Federal Reserve to support the credit market, stocks rebounded dramatically, breaking a series of highs by the end of the year.
Technology-intensive NASDAQ climbed 43.6% this year, the highest year of performance since 2009. The S & P 500 closed 2020 with a 16.3% rise. The Dow rose 7.3% in 2020.
Investors digested more than expected readings of US weekly unemployment claims on Thursday. The US Department of Labor has declared a total of 787,000 people who have filed unemployment benefits for the first time in the week leading up to December 26.
Senate majority leader Mitch McConnell has blocked efforts to increase direct stimulus payments from $ 600 to $ 2,000, but the latest rise in the market with vaccine deployments and new economic relief packages from Congress. Has accelerated.
The price of 10-year government bonds was high, dropping from 0.94% on Wednesday to 0.92%. Treasury prices and yields move in the opposite direction.
Crude oil prices were flat at US $ 48.40 a barrel.
Gold prices rose $ 8.20 to $ 1,901.60.
TSX finishes the day in red and is very positive for the year
http://www.baystreet.ca/articles/marketupdates.aspx?articleid=63056 TSX finishes the day in red and is very positive for the year