This week, Canada’s main stock index, the TSX, hit a record high thanks to gains in technology and bank stocks.
What the “Buzz”
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U.S. markets also posted record-setting numbers thanks to optimism about dwindling inflation and the continued dominance of The Magnificent Seven stocks.
This generalized fervor in North American markets is leading to prospective growth among Canadian micro-cap stocks, three of which earn spots as top stories this week:
dynaCERT (TSX:DYA, Forum), a renewable energy stock, secured new and repeat orders for its HydraGEN hydrogen and oxygen generation technology from clients in the mining and oil & gas sectors.
The orders originate from dealers spanning Western Canada, Australia, Brazil, Peru, Mexico and the United States.
dynaCERT stock has given back 9.52 per cent over the past month but has added 18.75 per cent year-to-date.
Theratechnologies (TSX:TH, Forum), a leading biopharmaceutical company, announces an exclusive licensing agreement with Ionis Pharmaceuticals to commercialize two innovative RNA-targeted medicines in Canada.
The company gains rights to olezarsen, designed for familial chylomicronemia syndrome and severe hypertriglyceridemia, and donidalorsen, targeting hereditary angioedema. Both drugs address severe, life-threatening conditions without adequate treatments in Canada.
Theratechnologies stock is up by 18.34 per cent over the past month but remains down by 11.11 per cent year-to-date.
Ivanhoe Mines (TSX:IVN, Forum) set a new production record of 45,019 tons of copper in concentrate at its Kamoa-Kakula complex in the Democratic Republic of the Congo.
Year-to-date production at Kamoa-Kakula to November 30, 2024, now stands at 390,061 tons of copper, a figure propelled by recent production records set in August and October.
Ivanhoe Mines stock is up by 3.28 per cent over the past month and has gained 49.88 per cent year-to-date.
Cautious optimism as we turn the page on 2024
As the TSX and S&P 500 hold tight to their over 20 per cent and 28 per cent gains year-to-date, respectively, and holiday cheer finds its way into the broader market, investors can always benefit from staying informed about top-stock activity and market trends. Keeping a close eye on developments in essential sectors like mining, healthcare and industrials, for example, is essential for assessing economic health and making informed investment decisions.
Stay tuned for more updates to ensure your portfolio remains aligned with the latest market dynamics.
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(Top image, generated by AI: Adobe Stock)