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TSX Gets its Groove Back

Jul 20, 2021 (Baystreet.ca via COMTEX) --

Stocks in Canada's biggest centre made up Tuesday for what they had lost Monday, particularly due to gains in health-care and consumer stocks.

TSX Composite index hoisted its values 216.26 points, or 1.1%, to conclude Tuesday at 19,942.71.

The Canadian dollar regrouped 0.43 cents to 78.87 cents U.S.

Health-care stocks carried the torch Tuesday, with Bausch Health Companies soaring $1.44, or 4.2%, to $36.05, while Tilray jumped 62 cents, or 3.6%, to $17.94.

Among consumer discretionary stocks, Spin Master propelled higher $1.89, or 4%, to $48.58, while BRP Inc. zoomed $3.85, or 4%, to $100.77.

In tech issues, BlackBerry leaped 87 cents, or 6.9%, to $13.48, while Tecsys acquired $2.15, or 4.9%, to $45.82.

In the gold patch, Alamos Gold dropped seven cents to $9.75, while Kinross Gold fell six cents to $7.71.

Canada on Monday said it would allow fully vaccinated U.S. tourists into the country starting from Aug. 9 after the COVID-19 pandemic forced an unprecedented 16-month ban that many businesses complained was crippling them.

ON BAYSTREET

The TSX Venture Exchange was ahead 18.95 points, or 2.2%, to 889.86.

All but one of the 12 TSX subgroups were positive on the day, with health-care improving 3.2%, while consumer discretionary and information technology concerns each spiked 2.4%.

Only gold sagged, and only 0.2% at that.

ON WALLSTREET

Major averages rebounded Tuesday as investors stepped in to buy the dip from the Dow Jones Industrial Average's worst day in eight months.

The 30-stock index made up 549.95 points, or 1.6%, from Monday's heavy losses to close Tuesday at 34,511.99. It was the biggest jump for the Dow in more than a month.

The S&P 500 regained 64.57 points, or 1.5%, to 4,323.06

The NASDAQ heightened 233.89 points, or 1.6%, to 14,498.88.

Many of the stocks that were hit the hardest on Monday, on concerns about COVID-19's delta variant, regained their losses Tuesday. Airlines and cruise companies led the rebound. American Airlines and Delta Air Lines, which lost 4% in the selloff, added 8% and 5%, respectively, on Tuesday. Royal Caribbean gained more than 7%, after falling 4% on Monday.

Bank shares bounced back too as bond yields climbed higher. JPMorgan shares rose 1.8% and Bank of America gained 2%. Regional banks led the financials sector, with Zions Bancorp picking up 5% and Regions Financial gaining 4%.

New COVID cases are rebounding in the U.S. as the delta variant spreads, largely among the unvaccinated. The U.S. is averaging about 26,000 daily cases in the last seven days, more than double the average from a month ago, according to data from the Centers for Disease Control.

Prices for 10-Year Treasurys fell, raising yields to 1.22% from Monday's 1.19%. Treasury prices and yields move in opposite directions.

Oil prices took on 90 cents to $67.32 U.S. a barrel.

Gold prices hiked $1.40 to $1,810.60 U.S. an ounce.

comtex tracking

COMTEX_390135305/2559/2021-07-20T16:27:31

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