The TSX was negative 55.52 points to begin Wednesday at 20,186.55.
The Canadian dollar was unchanged to 74.20 cents U.S.
Among company news, an investor consortium including Reuters News parent Thomson Reuters and U.S. buyout firm Blackstone sold shares worth about $3.41 billion in market operator London Stock Exchange Group. Thomson shares lost 49 cents to $167.65.
Credit Suisse and Stifel FirstEnergy turned bullish on oil refining firm Gibson Energy, whose shares triumphed 92 cents, or 4.3%, to $22.35.
In the economic docket, Statistics Canada said foreign investors reduced their exposure to Canadian securities by $19.1 billion in March, the largest divestment since September 2022. Meanwhile, Canadian investors reduced their holdings of foreign securities by $5.6 billion in March, a fourth consecutive monthly divestment.
Meanwhile, the Canadian Real Estate Association said national home sales jumped by double digits on a month-over-month basis. National home sales surged 11.3% month-over-month in April. Actual (not seasonally adjusted) monthly activity came in 19.5% below April 2022.
ON BAYSTREET
The TSX Venture Exchange poked up 1.85 points to 608.87.
All but two 12 TSX subgroups began the session in the red, weighed most by gold, down 1.3%, materials, shedding 1%, and communications, off 0.7%.
The two gainers proved to be information technology and energy, each 0.1%.
ON WALLSTREET
Stocks rose Wednesday as investors hoped congressional leaders and President Joe Biden could come to a deal on the U.S. debt ceiling and avoid a catastrophic debt default.
The Dow Jones Industrials recovered 75.94 points, to start Wednesday at 33,088.08. The 30-stock index is down more than 3% this month, including a 1% decline on Tuesday.
The S&P 500 pulled ahead 10.26 points to 4,120.16.
The NASDAQ Composite regained 24.38 points to 12,367.43.
Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth.
At the conclusion of a meeting between the president and congressional leaders Tuesday, House Speaker Kevin McCarthy said that a “better process” is now in place for further talks, saying it’s “possible to get a deal by the end of the week.” The White House said that Biden canceled a second leg of an upcoming international trip to focus on the negotiations.
Prices for the 10-year Treasury demurred, raising yields to 3.55% from Tuesday’s 3.53%. Treasury prices and yields move in opposite directions.
Oil prices added 66 cents to $71.52 U.S. a barrel.
Gold prices forfeited $12.10 to $1,994.20 U.S. an ounce.
Related Stories
