The Daily

April 2nd, 2020 Daily Market Commentary Canadian Headlines After suffering its worst quarter since the global financial crisis, Canadian stocks slumped on Wednesday as investors digested worsening U.S. coronavirus figures and assessed the pandemic’s impact on corporate profits. The S&P/TSX Composite Index lost 3.8% on the first day of the second quarter, with 10 out of its [...]

April 1st, 2020 Daily Market Commentary Canadian Headlines In a span of about six weeks, Canadian stocks posted their swiftest ever descent from bull to bear market, the loonie tumbled, corporate credit spreads sprang to the widest since 2009 and liquidity all but vanished at times. The head-spinning quarter has left Canadian markets lagging their [...]

March 31st, 2020 Daily Market Commentary Canadian Headlines Canadian equities bounced higher Monday afternoon as investors saw glimmers of optimism in efforts to deliver rapid virus testing. The S&P/TSX Composite Index rose 2.8%. Ten of eleven sectors advanced, with real estate being the only laggard. Quebec-based Cominar Real Estate Investment Trust dropped 11% after withdrawing guidance amid the spread [...]

March 30th, 2020 Daily Market Commentary Canadian Headlines Oil demand is getting hammered at a faster pace than anyone had predicted and landlocked crude production in the U.S., Russia and Canada is most vulnerable, according to Goldman Sachs Group Inc. Consumption will drop by 26 million barrels, or 25%, this week as social-distancing measures to contain the [...]

March 27th, 2020 Daily Market Commentary Canadian Headlines Canadian equities rose for a third session but fell just short of a bull market as an early rally cooled off. The S&P/TSX Composite Index gained 1.8% to 13,371.17 in Toronto, with materials the only sector to close in the red. Marijuana stocks were among standouts as several jurisdictions [...]

March 26th, 2020 Daily Market Commentary Canadian Headlines Canada’s stock market surged for a second day, putting it on the cusp of a bull market, as investors saw hope that government spending plans will bolster a global economy hit by the coronavirus pandemic. The S&P/TSX Composite Index closed 4.5% higher, posting its first back-to-back gains since Feb. 20, the [...]

March 25th, 2020 Daily Market Commentary Canadian Headlines Canadian stocks soared the most in at least 43 years, joining a global rally on hopes government stimulus will soon flow to economies hammered by the coronavirus. The S&P/TSX Composite Index rose 12% on Tuesday, the biggest one-day percentage jump since at least 1977 when the index’s predecessor began. [...]

March 24th, 2020 Daily Market Commentary Canadian Headlines Canadian stocks plunged to their lowest level in almost nine years as investors digested a slew of bad news that signalled a massive slowdown in economic growth for the year. The S&P/TSX Composite Index tumbled 5.3% Monday to its lowest since October 2011, bringing the drop from [...]

March 23rd, 2020 Daily Market Commentary Canadian Headlines Endeavour Mining Corp. agreed to buy rival Semafo Inc. for about C$1 billion ($690 million) in shares, less than three months after its last attempt at dealmaking fell apart. Both producers mine in West Africa and the combination will create a stronger company with better access to [...]

March 20th, 2020 Daily Market Commentary Canadian Headlines Canadian equities rose Thursday as investors continue to digest global stimulus plans while also on the lookout for buying opportunities. After sliding as much as 3.1% at the open, the S&P/TSX Composite erased that slump, rising to close 3.8% higher. All eleven sectors rose, with cannabis and [...]