Stocks in Canada fell by 1% last week after consistently rising in the previous couple of weeks. The S&P/TSX Composite Index fell by 83 points, or 0.4%, Friday to settle at 21,555. It was the third consecutive day that equities continued to slide. Despite an intraday rally in copper prices, weakening in other commodities, including crude oil, gold, and silver, pressurized energy and mining stocks. Even a slightly better-than-expected Canadian retail sales data couldn’t boost investors’ confidence.
Top TSX movers and active stocks
Lithium Americas stock rose by 13.3% in the last session, making it the top-performing TSX stock for the day. Turquoise Hill Resources, Real Matters, and Converge Technology shares were also among the top performers on the index.
In contrast, Lightspeed Commerce (TSX:LSPD)(NYSE:LSPD) was the worst-performing Canadian stock Friday, as it fell sharply by 7.4%. Its shares continue to plunge after a recent short report released on September 29 blamed the company’s management for misstating facts. Since then, multiple law firms have started investigating these allegations, and some of them have even filed securities fraud lawsuits against the Canadian e-commerce firm. Including last week’s massive 16% losses, LSPD stock has now seen 39% value erosion in November so far.
Centerra Gold, New Gold, and Denison Mines were other top losers on the TSX Composite in the last session, as they fell by at least 6% each.
Manulife Financial, Suncor Energy, Cenovus Energy, and Enbridge were the most traded stocks on November 19 based on their daily trade volume.
TSX today
Due to a continued drop in commodity prices, TSX stocks might open on a mixed to slightly negative note Monday morning. While no major domestic economic releases are due today, investors could pay attention to the U.S. existing home sales data this morning. The ongoing high inflation worries could continue to weigh on high-flying tech stocks this week.
