The TSX opened higher as rising oil prices and a rebound in gold supported resource-heavy stocks. Crude prices jumped more than 3% after Washington announced fresh sanctions on Russian energy, while gold extended gains following its sharp selloff earlier this week.
In corporate news, Tesla shares dipped after the company posted record revenue but a steep profit decline — with Elon Musk defending his controversial US$1 trillion compensation proposal. Meanwhile, EQB announced plans to cut 8% of its workforce as part of a broader restructuring strategy aimed at reducing costs.
Market numbers
TSX: Up (0.32%), 29,982.98
TSXV: Up (0.26%), 899.33
DOW: Down (0.71%), 46,590.42
NASDAQ: Down (0.99%), 24,879.00
FTSE: Up (0.95%), 9,540.50
In the headlines
- Tesla shares fall on profit slump – Tesla (NDAQ:TSLA) stock declined after the EV maker reported record quarterly revenue but a sharp drop in profits. CEO Elon Musk defended his US$1 trillion compensation pitch, calling it “aligned with shareholder success.”
- EQB announces layoffs amid restructuring – EQB (TSX:EQB) will cut about 8% of its workforce under a new restructuring plan designed to streamline operations and drive long-term efficiency. The move follows a broader slowdown in the Canadian financial sector.
Currencies
USD: Up (0.01%), $0.7143
GBP: Up (0.11%), $0.5353
EUR: Up (0.10%), $0.6158
JPY: Up (0.51%), ¥109.06
Bitcoin: Down (0.13%), US$109,020.11
(Conversion to C$1)
Commodities
Copper: Up (1.58%), 5.1261
Gold: Up (1.05%), 4,141.53
WTI: Up (3.75%), 61.82
Natural Gas: Down (1.51%), 3.40
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