Markets dip or flat in lacklustre session
Monday saw a muted start to the trading week as ongoing inflation worries weighed on some investors and volumes suggest that others were taking a breather. The TSX closed modestly down by 0.39%, dragged down by technology stocks and financials.
Notable movers in Toronto include Restaurant Brands International which delivered 1.9% gains after buying Firehouse Subs, Village Farms International up 2.25%, Tamarack Valley Energy climbing 3.77% and Intertape Polymer adding 3.21%. In contrast, Lundin Mining sank 3.99% as cannabis names Canopy and Hexo fell 5.48% and 6.28% respectively. Meanwhile crude oil made modest moves up as WTI nearly touched $81 per barrel and WCS rose over 1% to $61.60. Gold was flat around $1,860 an ounce and, for once, Bitcoin barely moved.
The sluggish dynamic was also found on Wall Street as the Nasdaq, Dow and S&P closed flat or down a handful of points. On the Dow, industrials were weak and energy climbed, but the other components were mixed. Boeing led gains at 5.49%. An activist investor fuelled Dollar Tree‘s 14% surge as Electronic Arts advanced 2.89% and BioNTech rallied 5.18%. However, Bed Bath and Beyond declined 4.26% and Ballard Power shed 2.52%.
🍲 Restaurant Brands International (QSR-T) +1.9%
🌿 Village Farms International, Inc. (VFF-T) +2.25%
🛢 Tamarack Valley Energy (TVE-T) +3.77%
📦 Intertape Polymer Group (ITP-T) +3.21%
⛏ Lundin Mining Corp. (LUN-T) -3.99%
🌿 Canopy Growth Corp. (WEED-T) -5.48%
🌿 Hexo Corp (HEXO-T) -6.28%
🛫 Boeing (BA-N) +5.49%
🛍 Dollar Tree (DLTR-Q) +14%
🎮 Electronic Arts Inc (EA-Q) -2.89%
🧫 BioNTech (BNTX-Q) +5.18%
🛏 Bed Bath & Beyond (BBBY-Q) -4.26%
🔋 Ballard Power Systems (BLDP-T) -2.52%