Canada’s main stock index rebounded from last week’s mass selloff that followed rate hikes by the Federal Reserve, the Bank of England, and the Swiss National Bank. A broad-based rebound in equities lifted the TSX ahead of speeches by U.S. Federal Reserve stakeholders this week. Traders will be tracking any guidance on the central bank’s policy path.
The telecom sector saw impressive gains. Rogers Communication and Quebecor both closed 5.8 per cent higher as news of the wireless deal between the two emerged, while Shaw gained nearly 8 per cent.
Bombardier stocks fell nearly 6 per cent following last week’s analyst downgrades on aviation stocks.
U.S. stock markets were closed to observe Juneteenth.
Today in the Markets
| TSX | 19,183.63 | +253.15 |
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| TSXV | 641.95 | +1.57 |
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| CSE | 287.67 | +3.41 |
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| DJIA | 29,886.80 | -/+0.00 |
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| NASDAQ | 10,798.35 | -/+0.00 |
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| S&P 500 | 3,674.63 | -/+0.00 |
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The Canadian dollar traded for 76.93 cents US compared to 76.77 cents US on Friday.
US crude futures traded 0.65 per cent higher at $110.30 a barrel, while the Brent contract added 0.89 per cent to $114.10 a barrel.
The price of gold was up US$0.02 US to $1,838.80.
In world markets, the Nikkei was down 191.7 points to 25,771.22 the Hang Seng was up 88.91 points to 21,163.91, the FTSE was up 105.56 points to 7,121.81, and the DAX was up 139.34 points to 13,265.60.
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