Close Menu
  • Home
  • About
  • News
  • Awards
  • Media & Press
  • Video Podcasts
  • Magazines
  • Events
  • Contact
Facebook X (Twitter) Instagram
Gazet International – Global Magazine
AWARD NOMINATION
  • Home
  • About
  • News
  • Awards
  • Media & Press
  • Video Podcasts
  • Magazines
  • Events
  • Contact
You are at:Home » TSX hits 3-week low as winning streak ends
Finance and Investing

TSX hits 3-week low as winning streak ends

Gazet InternationalBy Gazet InternationalDecember 16, 2024Updated:January 27, 20252 Mins Read
Facebook Twitter LinkedIn
Share
Facebook Twitter LinkedIn

Canada’s main stock index dropped to a three-week low on Friday. A decline in metal prices negatively impacted the materials sector, causing the market to lose some of the substantial gains it had made since the U.S. presidential election.

The Toronto Stock Exchange’s S&P/TSX composite index closed down by 136.41 points, or 0.5%, at 25,274.30. This marks its lowest closing level since November 20. 

For the week, the TSX experienced a 1.6% decline after achieving five consecutive weekly gains. Earlier this month, it reached a record high and has risen 4.6% since the start of November.

Toronto Stock Exchange

Sid Mokhtari, chief market technician for CIBC Capital Markets, stated that they have experienced a strong month following the U.S. presidential election. He noted that the recent mean reversion in broad indices is typical.

Mokhtari mentioned that Canada will likely remain range-bound for a while longer. He suggested this will last until the U.S. inauguration and until there is clarity on potential tariff threats from the U.S.

Donald Trump’s inauguration as U.S. president will occur on January 20. He has pledged to implement a 25% tariff on imports from Canada and Mexico as one of his first executive actions.

Finance Minister Chrystia Freeland stated that Canada will respond strongly if the United States applies unjustified tariffs on Canadian exports.

The materials sector, which encompasses fertilizer companies and metal mining shares, dropped by 1.7%. This decline extends the losses from the day before, driven by falling gold and copper prices.

Energy dropped by 0.5%, while industrials decreased by 0.7%. 

Enghouse Systems Ltd (ENGH.TO) saw its shares plummet by 12.9% after the software solutions company fell short of revenue expectations for the fourth quarter. 

Nine out of the ten major sectors experienced declines. The only exception was the technology sector, which benefited from a 9.1% increase in shares of electronics firm Celestica Inc (CLS.TO).

Click here for more news on Finance and Investing.

Source
#CANADA #ECONOMY #FINANCE #GAZETINTERNATIONAL #GI #GIAWARDS #gold #investing #MARKETS #metals #stockindex #STOCKMARKET #TorontoStockExchange #TSX
Share. Facebook Twitter LinkedIn
Previous ArticleNureca Limited Certified as a Great Place to Work​
Next Article Australia sues HSBC for neglecting scam victims

Related Posts

CYSEC MENA 2025: Bahrain Set to Host 15th Global Edition of Premier Cybersecurity Summit

May 7, 2025

Driving Innovation and Integrity: AIMCS & ICA AFRICA 2025 Wraps Up with Remarkable Impact

May 6, 2025

Hugo Boss beats Q1 revenue expectations

May 6, 2025
  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • LinkedIn
Don't Miss

Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​

Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market

Innovations Showcased at Airport Show to Enhance Digital Transformation

DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​

Recent Posts
  • Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​
  • Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market
  • Innovations Showcased at Airport Show to Enhance Digital Transformation
  • DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​
  • PayU Appoints Digital Payments Veteran Shailesh Paul as the New CEO of Wibmo​
Recent Comments
    Archives
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • October 2023
    • September 2023
    • January 2021
    Categories
    • Banking
    • Blog
    • Business
    • Corporate
    • Editor's Column
    • Events
    • Executive Spotlight
    • Finance and Investing
    • Lifestyle
    • magazine
    • podcast
    • Press Release
    • Technology
    • World
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    About

    GAZET INTERNATIONAL


    Gazet International Magazine is a global entity that works towards providing latest information and news updates of the world. It entraps latest stories in banking, finance, lifestyle and various beats of the world. We engage in recognizing and rewarding the global organizations for their achievements in various fields and deliver justice to the nominees with valued identification and recognition of companies that indulge in the Gazet Award Ceremony.

    Facebook X (Twitter) Instagram YouTube LinkedIn
    Categories
    • Banking
    • Blog
    • Business
    • Corporate
    • Editor's Column
    • Events
    • Executive Spotlight
    • Finance and Investing
    • Lifestyle
    • magazine
    • podcast
    • Press Release
    • Technology
    • World
    Latest posts

    Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​

    May 8, 2025
    Press Release

    Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market

    May 8, 2025
    Press Release

    Innovations Showcased at Airport Show to Enhance Digital Transformation

    May 8, 2025
    Press Release

    DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​

    May 8, 2025
    1 2 3 … 712 Next
    Official Partner

    7ITS NEWS

    Copyright © 2025. Gazet International

    Type above and press Enter to search. Press Esc to cancel.