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Canada’s main stock index fell for the sixth straight session on Thursday, as rising bond yields weighed on economically sensitive sectors such as industrials and real estate.
The TSX lost 143.06 points to close Thursday at 24,413,94.
The Canadian dollar progressed 0.33 cents to 69.47 cents U.S.
South African miner Sibanye Stillwater said it had entered into a $500-million streaming agreement with gold-focused royalty and streaming firm Franco-Nevada Corp. Franco-Nevada gave up $1.15, or 1%, to $165.52.
Australia’s Paladin Energy has received the final green light it needed from Canadian authorities to buy Fission Uranium in a $1.14-billion deal that cements its position as a major global producer. Fission shares gained five cents, or 6.9%, to 77 cents.
Vermilion Energy rose 26 cents, or 2.1%, to $12.75, after the oil and gas firm forecast 2025 free cash flow above analysts’ estimates.
In real-estate, StorageVault Canada dipped 10 cents, or 2.5%, to $3.90, while Allied Properties REIT units slipped 39 cents, or 2.2%, to $17.25.
Communications were also stung, especially Rogers, dunking 60 cents, or 1.4%, to $43.78, while TELUS lost 25 cents, or 1.3%, to $19.80.
Industrials felt the brunt, too, as Cargojet sank $5.29, or 5%, to $100.91, while Canadian Pacific Kansas City backpedaled $2.65, or 2.5%, to $102.75.
Consumer staples tried to help the situation, with Metro shares gaining $1.08, or 1.2%, to $91.97, while those for Premium Brands surged 70 cents to $79.10.
In utilities, Superior Plus added 19 cents, or 3.2%, to $6.23, while units of Brookfield Infrastructure Partners tallied 84 cents to $44.79.
Financials gained ground, with IGM Financial picking up 99 cents to $44.79, while Goeasy shares tacked on $2.85, or 1.8%, to $161.25.
Economically speaking, Statistics Canada said the number of employees receiving pay and benefits from their employer—measured as “payroll employment” in the Survey of Employment, Payrolls and Hours—fell by 21,100 (-0.1%) in October, following little change in September and August.
ON BAYSTREET
The TSX Venture Exchange fought its way upward 0.28 points to 582.59.
All but three of the 12 TSX subgroups were lower, weighed most by real-estate and communications, each down 1.1%, while industrials lost 1%
The three gainers were consumer staples and utilities, each up 0.2%, while financials demurred 0.1%.
ON WALLSTREET
The Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday.
The 30-stock index nudged out a gain of 15.37 points to 42,342,24.
The S&P 500 index backed up 5.08 points to 5,867.08
The NASDAQ slumped 19.92 points to 19,372.77.
Shares of artificial intelligence darling Nvidia, which weighed down the Dow in the previous session, traded 2% higher. Gains in financial stocks, including JPMorgan Chase and Bank of America, led the recovery in equities Thursday alongside industrials, health care and utilities.
Stocks plunged Wednesday after the Federal Reserve struck a heavy blow against the roaring bull market, signaling that it was likely to only cut interest rates twice next year, down from the four reductions that had been penciled in during its last forecast in September. The central bank also trimmed its benchmark overnight borrowing rate a quarter percentage point Wednesday, to a target range of 4.25% to 4.5%, but the question now is what policymakers will do in 2025.
Prices for the 10-year Treasury fell back, raising yields to 4.57% from Wednesday’s 4.51%. Treasury prices and yields move in opposite directions.
Oil prices swooned 73 cents to $69.85 U.S. a barrel.
Prices for gold swooned $41.30 an ounce to $2,612.10 U.S.
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