Canadian stocks continued to inch up for the fifth consecutive day after weaker-than-expected labour market data gave strength to hopes that the central banks in the United States and Canada might soon start easing their monetary stance. The S&P/TSX Composite Index climbed up by 199 points, or 1%, on Friday to settle at 19,825.
Although a decline in crude oil and natural gas prices pressurized energy stocks, a strong rally in all other key market sectors, mainly in healthcare, real estate, metal mining, and consumer cyclicals, drove the TSX benchmark higher. With this, the TSX Composite ended the week with solid 5.8% gains, delivering its best weekly performance since April 2020.
Top TSX Composite movers and active stocks
Jamieson Wellness, Brookfield Business Partners, First Quantum Minerals, Colliers International, and Aritzia were the top-performing TSX stocks in the last session, as they surged by at least 10% each.
On the flip side, despite the broader market rally, shares of Telus International (TSX:TIXT) fell more than 5% to $8.88 per share after announcing its third-quarter results. In the September quarter, the Vancouver-headquartered content moderation and digital solutions providerâs revenue rose 7.8% year over year to US$663 million.
While Telus International reaffirmed its full-year 2023 outlook in its latest earnings report, its adjusted earnings in the third quarter fell 34.4% to US$0.21 per share due mainly to higher operating and interest expenses. After the recent losses, TIXT stock now trades with 67% year-to-date losses.
Weakening oil prices drove Paramount Resources, NexGen Energy, and MEG Energy down by more than 4% each, making them among the worst performers on the Toronto Stock Exchange on November 3.
Based on their daily trade volume, Baytex Energy, Suncor Energy, Enbridge, Kinross Gold, and Royal Bank of Canada were the five most active stocks on the exchange.
TSX today
Most commodity prices, except base metals, were trading on a bearish note early Monday morning, pointing to a slightly lower open for the resource-heavy main TSX index today. The Richard Ivey School of Business is likely to release Canadaâs purchasing managersâ index data this morning, which could give investors an idea about the ongoing trends in economic activity.
As the corporate earnings season continues in full swing, several TSX-listed companies, including Sandstorm Gold, CT REIT, Finning International, MEG Energy, Element Fleet Management, Brookfield Asset Management, and Ivanhoe Mines, are expected to announce their latest quarterly results on November 6.
Market movers on the TSX today
| { ‘Symbol’ | i8ln tLang } | { ‘Company’ | i8ln tLang } | { ‘Last’ | i8ln tLang } | { ‘change’ | i8ln tLang } | { ‘changepct’ | i8ln tLang } | { ‘Open’ | i8ln tLang } | { ‘High’ | i8ln tLang } | { ‘Low’ | i8ln tLang } | { ’52weekrange’ | i8ln tLang } | { ‘Vol’ | i8ln tLang } | {‘volume change %’ | i8ln tLang} | { ‘tradeval’ | i8ln tLang } | { ‘totaltrades’ | i8ln tLang } | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSX:{tradee.symbolstring | str_replace ‘:CA’ ” } | {tradee.equityinfo.longname} {tradee.entitlement} | {tradee.pricedata.last | asQHLast} {tradee.premarket.last | asQHLast} | {tradee.pricedata.change | asQHLast} {tradee.premarket.change | asQHLast} | {tradee.pricedata.open | asQHLast} | {tradee.pricedata.high | asQHLast} | {tradee.pricedata.low | asQHLast} | {tradee.pricedata.sharevolume | numeraljs ‘0,0.[00]a’} {tradee.premarket.sharevolume | numeraljs ‘0,0.[00]a’} | {tradee.pricedata.volumechangepercent | numeraljs ‘0,0.[00]a’ ‘0’} | {tradee.pricedata.totalvalue | numeraljs ‘0,0.[00]a’} | {tradee.pricedata.tradevolume | numeraljs ‘0,0.[00]a’} |
{data.data.0.timezone | asTimezone tLang}
Financial Market Data copyright © 2023
QuoteMedia. Data delayed 15 minutes unless otherwise
indicated (view
delay times for all exchanges).
RT=Real-Time, EOD=End of Day,
PD=Previous Day. Market
Data powered by QuoteMedia.
Terms of Use.
The post TSX Today: What to Watch for in Stocks on Monday, November 6 appeared first on The Motley Fool Canada.
Should You Invest $1,000 In Telus International?
Before you consider Telus International, you’ll want to hear this.
Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in October 2023… and Telus International wasn’t on the list.
The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 25 percentage points. And right now, they think there are 5 stocks that are better buys.
See the 5 Stocks
* Returns as of 10/10/23
setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
The Motley Fool has positions in and recommends Aritzia and Colliers International Group. The Motley Fool recommends Brookfield Asset Management, Enbridge, Sandstorm Gold, and Telus International. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.