TSX Closer: The Index Closes Higher as Financials, Battery Metals Gain; BoC Holds Rates Steady
The Toronto Stock Exchange rose on Wednesday as gains in financial and battery metals shares outweighed weakness in technology and base metals, while investors assessed the Bank of Canada's decision to leave interest rates unchanged and mixed domestic economic data. The S&P/TSX Composite Index closed up 95.66 points, or 0.27%, to 35,416.20, with mixed sectors. Battery Metals Index led gainers, up 4.54%, with Health Care, Industrials, Telecom, and Financial, up 0.08%, 0.27%, 1.28%, and 1.57%, respectively. Base Metals led decliners, down 1.83%, while Information and Technology, down 1.77%, Utilities, down 0.05%, and Energy, down 0.45%. In commodities, gold edged lower on Wednesday even as the dollar and treasury yields fell after the US reported an unexpected drop in wholesale price inflation last month. The precious metal for August delivery was last seen down 0.5% to $4,049.80 per ounce. Earlier, the US Bureau of Labor Statistics reported the Producer Price Index fell by 0.3% monthly in June, down from a rise of 0.6% in May and under expectations for a flat reading, Meanwhile, West Texas Intermediate (WTI) crude oil rose to a one-month high on.
The Toronto Stock Exchange rose on Wednesday as gains in financial and battery metals shares outweighed weakness in technology and base metals, while investors assessed the Bank of Canada's decision to leave interest rates unchanged and mixed domestic economic data.
The S&P/TSX Composite Index closed up 95.66 points, or 0.27%, to 35,416.20, with mixed sectors.
Battery Metals Index led gainers, up 4.54%, with Health Care, Industrials, Telecom, and Financial, up 0.08%, 0.27%, 1.28%, and 1.57%, respectively.
Base Metals led decliners, down 1.83%, while Information and Technology, down 1.77%, Utilities, down 0.05%, and Energy, down 0.45%.
In commodities, gold edged lower on Wednesday even as the dollar and treasury yields fell after the US reported an unexpected drop in wholesale price inflation last month.
The precious metal for August delivery was last seen down 0.5% to $4,049.80 per ounce.
Earlier, the US Bureau of Labor Statistics reported the Producer Price Index fell by 0.3% monthly in June, down from a rise of 0.6% in May and under expectations for a flat reading, Meanwhile, West Texas Intermediate (WTI) crude oil rose to a one-month high on.