2 days ago
TSX gains as technology and financial stocks lead
Canada’s main stock market index went up on Monday.
Technology companies helped push it higher, especially Shopify and BlackBerry.
Financial companies, including banks and insurers, also gained.
Shopify’s shares rose 7.8 percent.
However, energy and mining companies lost value.
Oil prices fell as investors hoped for progress in talks about the Iran war.
Bank of Canada Governor Tiff Macklem warned that U.S. tariffs could weaken Canada’s economic growth.
Investors are also watching new retail sales data to learn how consumers are spending.
The S&P/TSX Composite Index rose 0.57% to 36,009.40.
Canada’s technology index gained 2.96%, led by Shopify and BlackBerry.
Shopify shares rose 7.8%, while BlackBerry shares increased 7%.
Financial stocks climbed 1.4%, while energy and mining stocks declined.
Bank of Canada Governor Tiff Macklem warned U.S. tariffs could reduce fourth-quarter growth below 1%.
- Who
- Canadian investors, technology and financial companies, and Bank of Canada Governor Tiff Macklem.
- What
- The S&P/TSX Composite Index gained, led by technology and financial stocks.
- Where
- Canada’s Toronto Stock Exchange market.
- When
- Monday, Sept. 21; the articles do not specify a year.
- Why
- Investors responded to gains in technology stocks and considered the Bank of Canada’s comments about inflation, growth, tariffs, and geopolitical risks.
Key facts
- TSX movement
- The S&P/TSX Composite Index rose 0.57% to 36,009.40.
- Technology index
- Canada’s technology index gained 2.96%.
- Shopify shares
- Shopify shares rose 7.8%.
- BlackBerry shares
- BlackBerry shares increased 7%.
- Financials index
- The financials index climbed 1.4%.
- Energy stocks
- Heavyweight energy stocks fell 2.5%.
- Mining index
- The broader mining index declined 0.7%.
- Growth warning
- Tiff Macklem said U.S. tariffs could push Canada’s fourth-quarter growth below 1%.
Quotes
Angelo Kourkafas
Senior global strategist for investment strategy at Edward Jones
“It (TSX) is getting imposed by the technology sector. Shopify, no doubt, is a big gainer on that front. More broadly, mega cap tech is reasserting leadership.”
livemint.com
Sources
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