Canadian stocks largely traded on a mixed to slightly negative note on Wednesday as the U.S. stock markets remained closed for Juneteenth. The S&P/TSX Composite Index fell by 94 points, or 0.4%, yesterday to 21,517 — marking its fourth losing session out of the last five.
While all key market sectors ended the day in red, the TSX benchmark’s weakness was primarily led by notable losses in healthcare, real estate, and financial stocks.
Top TSX Composite movers and active stocks
Canfor, Interfor, Brookfield, and Algoma Steel were the worst-performing TSX stocks for the day, slipping by at least 2.5% each.
On the flip side, Innergex Renewable Energy, Lundin Mining, Boralex, and Stelco climbed by at least 1.7% each, making them the day’s top performers on the Toronto Stock Exchange.
Shares of K92 Mining (TSX:KNT) also traded positively after the Vancouver-based metal miner announced the upsize of its senior secured credit facilities with Trafigura from $100 million to $120 million, with a potential increase to $150 million through an accordion feature.
These credit facilities, which include competitive interest rates and no hedging requirements, are expected to be used for K92’s general corporate purposes, capital expenditure, and working capital. In the last 12 months, the Canadian miner’s revenue has surged by nearly 25% year over year, helping its adjusted earnings for the period inch up by 18.2%. On a year-to-date basis, KNT stock now trades with 16.7% gains.
Based on their daily trade volume, Canadian Natural Resources, TC Energy, Pembina Pipeline, Royal Bank of Canada, and Suncor Energy were the five most active stocks on the exchange.
TSX today
Most commodity prices, except natural gas, were bullish early Thursday morning, pointing to a slightly higher opening for the resource-heavy main TSX index today.
Although no major domestic economic releases are due, Canadian investors will keep an eye on the weekly U.S. jobless claims, crude oil stockpile, and Philadelphia Fed’s manufacturing index data this morning, which could give further direction to stocks.
On the corporate events side, the TSX-listed Algoma Steel and Empire Company will announce their latest quarterly results on June 20.
Market movers on the TSX today
