Strength in the energy and base metal sectors helped Canada’s main stock index nudge higher as commodity prices rose. Tracking prices of crude oil and metals, the TSX’s gains were kept in check after the Bank of Nova Scotia reported a jump in loan loss provisions in Q4 2022. The tech, utilities, telecom, and industrial sectors also move lower.
Wall Street stocks moved lower as turmoil in China and declining consumer confidence weighed on sentiment. Economists were watching the outcome hoping to learn some hints as to American consumer health. West Texas Intermediate crude futures came back from their lowest level since December 2021.
Today in the Markets
The Canadian dollar traded for 73.58 cents US, compared to 74.10 cents US on Monday.
US crude futures traded $1.22 higher at $78.46 a barrel, while the Brent contract gained $0.07 to $83.26 a barrel.
The price of gold was up US$7.81 to US$1,748.90.
In world markets, the Nikkei was down 134.99 points to 28,027.84, the Hang Seng was up 906.74 points to 18,204.68, the FTSE was up 37.98 points to 7,512.00, and the DAX was down 27.91 points to 14,355.45.
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