Toronto Stock Exchange down; mixed session on Wall Street

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 Toronto Stock Exchange down; mixed session on Wall Street


TORONTO – The main index of the Toronto Stock Exchange retreated on Wednesday, pulled down, in particular, by the energy sector and the negative reaction of investors to a potential large acquisition for Alimentation Couche-Tard.

The Toronto Stock Exchange’s S & P / TSX Composite Index closed at 17,934.74 points, down 51.06 points.

The consumer staples sector was the weakest, declining 2.8%. The share of Alimentation Couche-Tard in particular plunged 10.2% after the retailer announced that it had offered $ 25 billion for the French supermarket chain Carrefour.

The materials group retreated 1.6%, while the energy group lost 1.3%. The health sector posted the best gain, advancing 5.4%.

The second indictment of US President Donald Trump in impeachment proceedings has had little impact on market sentiment, which has soared in anticipation of new fiscal stimulus to be unveiled by the president-elect on Thursday. Joe Biden, with the continuation of the COVID-19 vaccination campaign.

“These are encouraging calls for a quick recovery later this year and a quick return to normalcy, and that should largely offset some of the near-term risks,” observed Candice Bangsund, portfolio manager for Fiera. Capital.

Since January’s debit, the market has seen impressive gains, especially with the Democratic takeover of the Senate and the likelihood of further fiscal stimulus.

The budget program is expected to cost trillions of dollars. Its passage is likely to pass through Congress, with new Vice President Kamala Harris able to break a tie in the Senate and Democrats holding a slim majority in the House of Representatives.

In New York, the Dow Jones Industrials Average slipped 8.22 points to end at 31,060.47 points, while the broader S&P 500 index gained 8.65 points to 3,809.84 points. The Nasdaq Composite Index advanced 56.52 points to 13,128.95 points.

In the currency market, the Canadian dollar traded at 78.68 cents US, up from its average rate the previous day.

On the New York Commodity Exchange, the price of crude oil returned 30 cents US, to US $ 52.91, while that of gold rose US $ 10.70, to US $ 1,854.90 l ‘ounce. The pound of copper closed at around US $ 3.62, down 2.6 cents US.

The Canadian Press

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