Markets

TSX May Get a Lift from Commodities

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The benchmark Canadian index looks set for a strong open on Monday, with June stock futures on the S&P TSX index rising 0.21% in recent trading. The commodity-sensitive index could get a boost from higher gold and oil prices .

Gold was up 1% at $1,301 an ounce recently, while oil edged up by 0.5% to above $100 levels.

The Bank of Montreal in its morning note, noted the TSX fell 1.6% last week, underperforming most major markets in a tough week for equities. The CAC (+0.4%), Dow (+0.4%) and DAX (+0.3%) were the top performers, while the Nikkei (-1.8%) was the laggard. Despite the drop, the TSX remains the top performing major market year-to-date, up 6.7%, compared to losses in the Nikkei (-13%), CSI 300 (-8%), and NASDAQ (-2.5%). Nearly all TSX sectors were in the red last week, with telcos (+1.2%) the exception. Tech (-6.4%) and health care (-4.4%) saw the biggest declines.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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