The Canadian equities market went sideways on Thursday, as growing concerns about a looming recession kept investors on their toes. The TSX Composite Index ended the session at 19,969, with a minor decline of four points from its previous closing. Technically, it was the fifth consecutive session of losses for the main Canadian market index. While consumer and industrial stocks witnessed a positive movement, most other key stock market sectors, like technology, real estate, and financials, ended the session in red territory.
Top TSX movers and active stocks
Athabasca Oil, Canopy Growth, Tamarack Valley Energy, Tilray Brands, Corus Entertainment, and Converge Technology were the worst-performing TSX stocks yesterday, as they slipped by at least 3% each.
On the flip side, Parkland, Bausch Health Companies, Canada Goose, Brookfield Business Partners, and Denison Mines inched up by at least 4% each, making them the top performers on the Toronto Stock Exchange.
Based on their daily trade volume, commodity-linked stocks like Suncor Energy, Canadian Natural Resources, Barrick Gold, and Athabasca Oil were the most active stocks on the exchange.
TSX today
Early Friday morning, gold prices were trading on a bullish note, pointing to a higher open for the metal and mining stocks on the TSX today. While no important domestic economic releases are due, Canadian investors may want to watch the monthly U.S. producer price index data this morning.
On the corporate events front, the Montréal-based Laurentian Bank of Canada (TSX:LB) is set to announce its October quarter results before the market opening bell on December 9. Bay Street analysts expect the bank’s quarterly revenue to rise by 5.9% from a year ago to $265.3 million. And Laurentian Bank’s quarterly earnings are estimated to be around $1.24 per share, reflecting a 16.6% year-over-year increase but flat on a sequential basis. Notably, LB stock has seen a 21.7% value erosion in 2022 so far.
