Positive Finish for TSX

Shopify, Bausch in Focus

The TSX kept its forward momentum going up until Wednesday’s closing bell, pushed by gains in tech and health stocks.

The S&P/TSX Composite Index managed to hang onto 33.61 points in gains to end Wednesday at 16,318.14

The Canadian dollar inched ahead 0.08 cents to 74.39 cents

BlackBerry was among the tech shares going higher, 12 cents, or 1.1%, to $11.52, while Shopify vaulted $13.75, or 4%, to $354.62.

Among health-care concerns, Bausch Health Companies added 35 cents, or 1%, to $33.90, while Aurora Cannabis jumped 31 cents, or 2.7%, to $11.63.

In consumer staples, Restaurant Brands International gained 34 cents to $89.71, while Saputo acquired 30 cents to $45.61

In communications, Rogers lost 15 cents to $68.52, while Shaw lost 38 cents, or 1.4%, to $26.83.

Golds also bowed lower, with Kirkland Lake sinking $1.71, or 3.6%, to $45.28, while Agnico Eagle Mines subtracted 61 cents, or 1.1%, to $55.27

On the economic slate, Statistics Canada said inflation rose 2.0% on a year-over-year basis in April, following a 1.9% increase in March. On a seasonally adjusted monthly basis, the Consumer Price Index rose 0.3% in April.

Meanwhile, the Canadian Real Estate Association said home sales, recorded via Canadian MLS Systems, rose by 3.6% m-o-m in April 2019.

CREA adds, after having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018.


The TSX Venture Exchange added 6.75 points to 607.54

All but two of the 12 Toronto subgroups were higher by the closing bell, as information technology climbed 1.5%, health-care was haler by 0.9%, and consumer staples gained 0.5%.

The two laggards were gold and communications both down 0.2%.


Stocks rose on Wednesday on news that President Donald Trump plans to delay the implementation of auto tariffs.

The Dow Jones Industrials grabbed 115.97 points to end the session at 25,648.02, after falling as much as 190 points earlier on.

The S&P 500 recovered 16.55 points to 2,850.96

The NASDAQ Composite gained 87.65 points, or 1.1%, to 7,822.15

Reports circulated Wednesday morning that the Trump administration will delay those levies by up to six months. The news sent auto stocks higher. Fiat Chrysler’s U.S.-listed shares rose 1.9% while Ford Motor tacked on 1.2%, and General Motors gained 0.9%.

Other stocks lifting the market included Boeing and Alphabet. Boeing shares rose 0.8% after the Federal Aviation Administration said it expects the aerospace giant to submit its software fix for the 737 Max plane soon. Alphabet, meanwhile gained 4.1% after Deutsche Bank raised its price target on the tech giant to $1,400 from $1,300.

Overnight, data released in China showed industrial production rose by 5.4% in April on a year-over-year basis, notching the slowest pace of growth since May 2003. Economists expected an expansion of 6.5%. Chinese retail sales also disappointed economists.

U.S. retail sales fell 0.2% in April, the Commerce Department said Wednesday. Economists polled by Dow Jones expected an increase of 0.2%.

Prices for the benchmark 10-year U.S. Treasury gained ground, lowering yields to 2.37% from Tuesday’s 2.41%. Treasury prices and yields move in opposite directions.

Oil prices gained 41 cents to $62.19 U.S. a barrel.

Gold prices shrugged off losses to gain 80 cents to $1,297.10 U.S. an ounce.