VET:CC - TSX Today: What to Watch for in Stocks on Tuesday July 5
The Canadian equities market started the new month on a positive note, lifted mainly by an intraday recovery in commodity-linked shares. The S&P/TSX Composite Index rose by 168 points, or 0.9%, on Monday to settle at 19,029. A rebound in crude oil and precious metals prices helped energy , as well as metals and mining stocks, climb. Other key sectors on the TSX, like consumer cyclicals, consumer non-cyclicals, and industrials also posted handsome gains, despite the U.S. market holiday for Independence Day.
Top TSX movers and active stocks
Shares of Vermilion Energy (TSX:VET) (NYSE:VET) popped by 8.7% to $26.64 per share, making it the top-performing TSX stock for the session. This rally in Vermilion stock came after the company revealed that the Toronto Stock Exchange has allowed it to repurchase nearly 16.07 million of its common shares over 12 months starting from July 6, 2022. According to the exchange’s approval, the Canadian energy company’s daily purchase limit is fixed at 513,299 common shares. Year to date, Vermilion stock has risen by 67.5%.
Other commodity-linked stocks like Advantage Energy , New Gold , and Wesdome Gold Mines were also among the top gainers on the exchange as they rose by more than 7% each yesterday.
On the flip side, Dye & Durham , Capstone Mining , and NFI Group were the worst-performing TSX stocks, as they fell by more than 4% each on July 4.
While the overall TSX trade volume remained low due to the U.S. market holiday, Whitecap Resources , Toronto-Dominion Bank , Prairiesky Royalty , and Baytex Energy were among the most active stocks on the exchange.
TSX today
Early Tuesday morning, commodity prices across the board were continuing to slide, which could take TSX energy and mining shares lower at the open today. While no major economic data is due today, Canadian investors may want to remain cautious ahead of Wednesday’s Federal Open Market Committee (FOMC) meeting minutes release.
TSX shares like MTY Food , Aritzia , and Richelieu Hardware will likely remain volatile in the next few sessions, as these companies are expected to announce their latest quarterly results later this week.
The post TSX Today: What to Watch for in Stocks on Tuesday, July 5 appeared first on The Motley Fool Canada .
The Motley Fool has positions in and recommends MTY Food Group. The Motley Fool recommends ARITZIA INC, NFI Group, RICHELIEU HARDWARE LTD, and VERMILION ENERGY INC. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.
2022