Canada's main stock index finished higher on Wednesday, with the S&P/TSX Composite adding 0.27% at the Toronto close to reach a new all-time high. Strength in Financials, Telecoms and Real Estate helped lift the market overall, even as a number of resource and energy issues fell.
The session's top performers on the S&P/TSX Composite included Bird Construction Inc. (TSX:BDT), which jumped 13.37% or 9.10 points to close at 77.18. EQB Inc (TSX:EQB) gained 9.60% or 13.10 points to finish at 149.61, and Aecon Group Inc. (TSX:ARE) rose 9.06% or 4.50 points to end the day at 54.18.
On the downside, Altius Minerals Corporation (TSX:ALS) led decliners, falling 15.13% or 9.99 points to 56.05 at the close. Trekor Metals Ltd (TSX:TKO) dropped 6.44% or 0.72 points to 10.46, while Energy Fuels Inc. (TSX:EFR) slipped 4.46% or 0.83 points to finish at 17.77.
Declining issues outnumbered advancing ones on the Toronto Stock Exchange, with 497 names lower versus 482 that rose; 77 stocks were unchanged.
Shares of Bird Construction and EQB reached all-time highs in the session, closing at 77.18 and 149.61 respectively.
Market volatility, as measured by the S&P/TSX 60 VIX, eased 2.24% to 13.94, indicating a modest decline in implied volatility for TSX index options.
Commodity prices showed mixed movement during the session. Gold Futures for August delivery were down 0.04% or 1.75 to settle at 4,067.95 a troy ounce. In energy markets, crude oil for August delivery rose 1.22% or 0.97 to $80.31 a barrel, while the September Brent contract increased 1.29% or 1.09 to trade at $85.82 a barrel.
Currency markets were relatively stable for the Canadian dollar: CAD/USD was effectively unchanged, moving 0.13% to 0.71, while CAD/EUR was unchanged at 0.26% to 0.62. The US Dollar Index Futures declined 0.41% to 100.30.
Market context and takeaways
- Toronto's benchmark hit a record close, supported by strength in Financials, Telecoms and Real Estate.
- Several individual stocks posted sharp gains, with two names reaching record closing prices.
- Resource and energy names accounted for many of the day's biggest declines, contributing to more decliners than advancers on the exchange.
Data points cited
- S&P/TSX Composite: +0.27% at close, new all-time high.
- Top gainers: Bird Construction +13.37% to 77.18; EQB +9.60% to 149.61; Aecon Group +9.06% to 54.18.
- Top decliners: Altius Minerals -15.13% to 56.05; Trekor Metals -6.44% to 10.46; Energy Fuels -4.46% to 17.77.
- Advance/decline on TSX: 482 advancing, 497 declining, 77 unchanged.
- S&P/TSX 60 VIX: -2.24% to 13.94.
- Gold (Aug): -0.04% to 4,067.95 per troy ounce. Crude oil (Aug): +1.22% to $80.31 per barrel. Brent (Sep): +1.29% to $85.82 per barrel.
- CAD/USD: +0.13% to 0.71. CAD/EUR: +0.26% to 0.62. US Dollar Index Futures: -0.41% at 100.30.