TSX Falls Monday

Tesla Spreads Wings

Equities in Toronto capsized somewhat from the higher readings they’d been enjoying in recent weeks, as health-care and energy stocks took it on the chin Monday.

The S&P/TSX Composite Index handed back 28.11 points to end Monday at 21,977.83.

The Canadian dollar slid 0.24 cents to 79.84 cents U.S.

Health-care issues fell hard, retreating from a high of more than a month in the prior session, as pot producers got bruised.

Canopy Growth let go of 93 cents, or 8.6%, to $9.90. Aurora Cannabis settled 47 cents, or 8.4%, to $5.11.

In energy issues, Vermilion Energy got walloped $2.14, or 7.3%, to $27.06, while MEG Energy faltered 93 cents, or 5%, to $17.51.

Gold was stung, particularly, Kinross, off 14 cents, or 2%, to $7.01, while Seabridge Gold slipped 96 cents, or 4%, to $22.84.

Tech issues did their best to even out the score, with HUT8 Mining hustling 50 cents, or 6.8%, to $7.85, while BlackBerry moved higher by 29 cents, or 3.1%, to $9.52.

In consumer staples, Alimentation Couche-Tard jumped $1.21, or 2.2%, to $55.50, while Premium Brands acquired $1.85, or 1.8%, to $107.51.

In industrial concerns, GFL Environmental added $1.46, or 3.8%, to $40.09, while Waste Connections added on $4.35, or 2.6%, to $172.46.


The TSX Venture Exchange was 8.53 points in the red to 877.79.

Even so, eight of the 12 TSX subgroups had moved to the positive side on the day, with information technology clicking 2.1%, consumer staples stronger 1.2%, and industrials improving 0.8%.

The four laggards were weighed most by health-care, plummeting 4.2%, energy, moving 2.6% lower, and gold, off 2%.


The S&P 500 rose on Monday, extending two weeks of gain, as investors shook off recession concerns and bid tech shares higher.

The Dow Jones Industrials recovered 94.65 points by the closing bell Monday at 34,955.89

The S&P 500 moved upward 32.46 points to 4,575.52.

The NASDAQ Composite hiked 185.6 points, or 1.3%, to 14,354.90, thanks to a 8% jump in Tesla.

Energy stocks slid alongside the price of oil. Chevron dropped 1.8% and Exxon Mobil fell 2.8%.

Tesla led technology shares higher after the EV maker said it wants to split its stock to pay a stock dividend. Tesla popped 8%. Other tech shares, which as a group have been among the worst performers so far this year, gained as well with Microsoft and Amazon higher.

Bank stocks ticked lower on Monday as the yield curve flattened. JPMorgan lost 0.8% and Wells Fargo fell 1.5%.

Investors continue to monitor developments in Russia’s war on Ukraine. Peace talks between the two nations are set to continue this week, with delegations from both countries traveling to Turkey on Monday.

A Kremlin spokesperson told reporters that discussions were likely to resume Tuesday.

Treasury prices gained some ground, lowering yields to 2.46% from Friday’s 2.48%. Treasury prices and yields move in opposite directions.

Oil prices tumbled $10.46 to $103.44 U.S. a barrel.

Gold prices lost $34.80 to $1,919.40 U.S. an ounce.