Canada stocks on pace to see their best quarter in nearly 10 years

Share This Article
March 29, 2019 11:28am NYSE:EWC

NYSE:EWC | News, Ratings, and Charts

From Reuters:

March 29 (Reuters) – Canada’s main stock index was trading flat on Friday, as losses in heavyweight financials offset gains in energy stocks and BlackBerry shares.


* TSX was poised for its biggest quarterly rise since the second quarter of 2009.

* At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 3.89 points, or 0.02 percent, at 16,159.38.

* On the economic front, the latest Statistics Canada report showed that the domestic economy grew by 0.3 percent in January from December, offsetting the declines of the last two months.

* Shares of BlackBerry Ltd rose about 14 percent, leading the gains on the TSX, after the company topped quarterly profit estimates, helped by a sharp rise in fees for licensing and using its technologies as it develops more software and solutions for customers.

* The energy sector climbed 0.9 percent as U.S. crude prices were up 1.9 percent a barrel, while Brent crude added 1.2 percent.

* The financials sector, which accounts for about a third of the main index’s weight, slipped 0.2 percent. The industrials sector dipped 0.1 percent.

* The materials sector, which includes precious and base metal miners and fertilizer companies, added 0.5 percent as gold futures rose 0.7 percent to $1,298.5 an ounce.

* On the TSX, 158 issues were higher, while 73 issues declined for a 2.16-to-1 ratio favouring gainers, with 14.05 million shares traded.

* Another large percentage gainer on the TSX, Ivanhoe Mines Ltd, rose 4.8 percent after brokerage CIBC raised the stock’s price target.

* Shares of Wheaton Precious Metals Corp, leading decliner on the TSX, dropped 3.5 percent. The second-biggest drop was BRP Inc, down 2.4 percent.

* The most heavily traded shares by volume were Blackberry, Aurora Cannabis and CannTrust Holdings Inc.

* The TSX posted five new 52-week highs and no fresh one-year low.

* Across all Canadian issues, there were 14 new 52-week highs and four new lows, with total trading volume hitting 24.50 million shares. (Reporting by Medha Singh in Bengaluru, Editing by Sherry Jacob-Phillips)


The iShares MSCI Canada ETF (EWC) was trading at $27.63 per share on Friday morning, up $0.05 (+0.18%). Year-to-date, EWC has declined -6.78%, versus a 5.90% rise in the benchmark S&P 500 index during the same period.

EWC currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 6 ETFs in the Canada Equities ETFs category.


This article is brought to you courtesy of Yahoo! Finance.


9 "MUST OWN" Growth Stocks For 2021

Read Next



Free Investing Ideas Newsletter!

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

Most Popular



7 Best ETFs for the NEXT Bull Market

Explore More from ETFDailyNews.com

Free Investment Newsletter

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories