TSX rises modestly on U.S. holiday
U.S. markets were closed Monday to celebrate Martin Luther King, but the TSX climbed 0.22% to close 52 points shy of 18,000. Energy sank 1.54% as the price of WCS slipped 0.5% and WCS plummeted 2.6%, but tech, real estate and financials helped lift the Toronto index.
The day’s big gainer was Lithium Americas, which soared 18.35% after U.S. regulators approved the company’s Nevada mine. Blackberry extended its rally by another 5.77% in heavy trading, as did Aphria which climbed 3.79%. As mentioned, energy took a hit. For example, Suncor closed -2.27% and Meg Energy -5.96%.
Headlines drove some key TSX names. The French government has blocked Alimentation Couche-Tard’s takeover of Carrefour. ATD’B rose 1.11% in heavy trading, though is still way off plunging last week. Alcanna is spinning out its cannabis retail business with YSS Corp. to create a new weed retailer. Alcanna rocketed nearly 20%. It’s reported that incoming American president, Joe Biden, will block the Keystone XL pipeline. Shares of TC Energy sank 4.54%.