The Canadian stock market trended upward for the third consecutive session on Tuesday, as much stronger-than-expected U.S. consumer confidence numbers boosted investorsâ confidence, shaking off concerns about the banking sector. With this, the S&P/TSX Composite Index witnessed a minor 33-point gains to settle at 19,658, trimming its month-to-date losses to 2.8%.
Although shares of healthcare, real estate, and technology companies continued to slip in the last session, healthy gains in other key stock market sectors like mining, consumer non-cyclicals, and energy pushed the TSX index up.
Top TSX Composite movers and active stocks
Shares of goeasy (TSX:GSY) tanked by 9.4% yesterday to $98.25 per share after it provided updates on the Federal budget and a new funding capacity. The Mississauga-based nonprime leasing and lending services provider told investors that the federal governmentâs recently announced move to reduce the maximum allowable rate of interest could âeliminate access to credit for millions of borrowers.â
goeasy is currently evaluating the possible impact of this reduction on its business and might revise its previously given commercial forecast in the coming months. On a year-to-date basis, GSY stock now trades with 7.7% losses.
Cronos Group, Canopy Growth, Lightspeed Commerce, and Tilray Brands were also among the worst-performing TSX stocks for the day, as they fell at least 4.2% each.
On the flip side, Spartan Delta (TSX:SDE) jumped 7.2% to $14.78 per share after announcing a purchase and sale agreement with its home market peer Crescent Point Energy. According to the agreement, Crescent Point intends to acquire Spartan Deltaâs Gold Creek and Karr Montney assets in Alberta in a deal worth $1.7 billion. After this transaction, Spartan expects to focus mainly on developing its sustainable Deep Basin assets and enhancing shareholder value. This rally trimmed SDE stockâs year-to-date losses to 1.1%.
Shares of Lundin Mining and Equinox Gold were also among the top performers on the Toronto Stock Exchange on March 28, as they inched up by more than 6% each.
Based on their daily trade volume, Canadian Imperial Bank of Commerce, Crescent Point Energy, Barrick Gold, and TD Bank were the most active Canadian stocks.
TSX today
After staging a recovery in the last session, metals prices across the board turned negative again on Wednesday, which could drive the TSX mining stocks downward at the open today. While no important domestic economic releases are due, Canadian investors may want to closely monitor the monthly pending home sales and weekly crude oil stockpiles data from the United States this morning.
On the corporate events side, large TSX-listed companies Dollarama and Constellation Software are expected to release their latest quarterly results on March 29.
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 Wednesday, March 29 appeared first on The Motley Fool Canada.
Should You Invest $1,000 In goeasy?
Before you consider goeasy, 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 March 2023… and goeasy 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 22 percentage points. And right now, they think there are 5 stocks that are better buys.
See the 5 Stocks
* Returns as of 3/7/23
setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- 2 Cheap TSX Stocks That Could Make You Rich
- Want to Retire Wealthy? 3 TSX Stocks to Add to Your Portfolio Now
- 2 Growth Stocks That Also Offer Incredible Dividends
- 2 Undervalued Canadian Stocks to Buy in March 2023
- 2 TSX Value Stocks to Buy for Peace of Mind (and a Crazy-Good Deal)
The Motley Fool recommends Constellation Software and Lightspeed Commerce. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.