EDR:CC - TSX Today: What to Watch for in Stocks on Thursday March 17
Canadian equities staged a handsome recovery on Wednesday, as the U.S. Federal Reserve raised key interest rates for the first time in over three years to fight inflation — in line with the expectations. The S&P/TSX Composite Index ended the session with 281 points, or a 1.3% gain, at 21,469.
Also, investors’ high hopes from the ongoing Russia-Ukraine talks added optimism and helped commodity prices ease further. Shares across sectors on the TSX — except some metals and mining stocks — witnessed sharp gains, mainly led by healthcare, technology, consumer cyclicals, and real estate stocks.
Top TSX movers and active stocks
Tech stocks like Shopify , Nuvei , Docebo , and Lightspeed Commerce were the four top-performing shares on the Canadian market, as they jumped by more than 9% each on March 16.
On the flip side, Endeavour Silver (TSX:EDR) (NYSE:EXK) stock dived by more than 10.5% to $6.13 per share, making it the worst-performing TSX stock for the day. This sharp selloff came after the Vancouver-based precious metals mining company announced bought-deal financing, which would help it pay US$35 million to SSR Mining for its Pitarrilla project takeover bid in Durango State, Mexico. Yesterday’s sharp losses trimmed EDR stock’s year-to-date gains to 14.6%.
Nutrien and OceanaGold were also among bottom-performing stocks on Wednesday, as they fell by at least 4% each.
Based on their daily trade volume, Enbridge , Bombardier , Suncor Energy , and BCE were the most active TSX Composite components in the last session.
TSX today
After consistently sliding for several days, crude oil and precious metals prices were showcasing a recovery early Thursday morning. This factor could help TSX energy and mining stocks rise at the open today. However, mixed signals from key Asian and European stock indexes amid the ongoing Ukraine crisis could keep stocks volatile.
While no major domestic economic data is scheduled to be released on Thursday, investors could watch the latest building permits, jobless claims, and manufacturing numbers from the U.S. market this morning. Canadian companies like Badger Daylighting , Power Corporation of Canada , and Hut 8 Mining are likely to release their latest quarterly results today.
The post TSX Today: What to Watch for in Stocks on Thursday, March 17 appeared first on The Motley Fool Canada .
The Motley Fool owns and recommends Nuvei Corporation and Shopify. The Motley Fool recommends Enbridge, Lightspeed Commerce, and Nutrien Ltd. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.
2022