After two sessions of solid performances, Canada’s main stock index slipped in choppy trading on Wednesday. Following cuts to global growth forecasts by both the World Bank and the OECD, equities are also being pressured by persistent concerns of inflation, and consequently the likelihood of aggressive action by global central banks. Baytex Energy Corp. was one of the top gainers, growing 4.7 per cent.
The energy sector gained ground and has soared 65 per cent this year and is on track for a bumper 2022. Brent crude hovered near $122 a barrel.
US markets were also pulled lower. Intel fell 5.2 per cent and was one of the biggest drags on the blue-chip and benchmark indexes after analysts warned that the chipmaker could pre-release weaker-than-expected earnings for Q2 2022.
Today in the Markets
| TSX | 20,792.43 | -135.78 |
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| TSXV | 724.19 | +1.42 |
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| CSE | 314.68 | -6.89 |
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| DJIA | 32,910.90 | -269.24 |
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| NASDAQ | 12,068.27 | -88.96 |
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| S&P 500 | 4,115.77 | -44.91 |
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The Canadian dollar traded for 79.65 cents US compared to 79.82 cents US on Tuesday.
US crude futures traded 2.40 per cent higher at $122.30 a barrel, while the Brent contract rose 2.70 per cent to $123.80 a barrel.
The price of gold was down $0.28 US to $1,853.10.
In world markets, the Nikkei was up 290.34 points to 28,234.29 the Hang Seng was up 482.92 points to 22,014.59 the FTSE was down 5.93 points to 7,593.00, and the DAX was down 110.63 points to 14,445.99.
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