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Canadian stocks hit 14-month low, loonie dips on recession worries

Friday, June 17, 2022
Canadian stocks hit 14-month low, loonie dips on recession worries © Reuters. The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren

By Fergal Smith

TORONTO (Reuters) - Canada's main stock index slumped on Thursday to its lowest level in 14 months and its currency weakened as investors grew more worried that aggressive central bank interest rate hikes would trigger a recession, weighing on corporate earnings.

The Toronto Stock Exchange's S&P/TSX composite index was down 3.3% at 18,970.70, its lowest level since April 2021.

The Canadian dollar was trading 0.3% lower at 1.2925 to the greenback, or 77.37 U.S. cents, after touching on Wednesday its weakest intraday level in more than one month at 1.2995.

U.S. stock indexes also tumbled on Thursday as the Swiss National Bank and the Bank of England lifted interest rates following the Federal Reserve's 75-basis-point hike on Wednesday, with central banks aiming to slow domestic activity in the face of soaring price pressures.

"It is becoming increasingly necessary to see a decline in growth in order to stave off inflation," said Joseph Abramson, co-chief investment officer at Northland Wealth Management.

"People have been talking about recession but it's not in market expectation yet if you look at the forward earnings growth. So that's the next shoe to drop."

Broadbased declines on the TSX included a decline of 5.3% for the energy sector, extending its recent pullback, even as oil prices rose.

U.S. crude oil futures settled nearly 2% higher at $117.58 a barrel after the United States announced new sanctions on Iran.

Technology, which tends to be particularly sensitive to higher interest rates, fell 4.1% and heavily-weighted financials were 3.1% lower.

One major outlier among individual stocks was LifeWorks Inc. Its shares jumped 68% after Canadian wireless carrier Telus (NYSE:TU) Corp agreed to buy the human resources services company in a C$2.9 billion ($2.2 billion) deal.

Domestic data showed that Canada's wholesale trade decreased by 0.5% in April from March, weighed by a drop in fertilizer imports from Russia.

Canadian government bond yields were mixed across the curve. The 10-year touched its highest since May 2010 at 3.664% before pulling back to 3.460%, unchanged on the day.

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27-06-2022 22:36:02 (UTC+7)

EUR/USD

1.0612

+0.0058 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0612

+0.0058 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2307

+0.0045 (+0.37%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (5)

USD/JPY

135.15

-0.01 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (1)

AUD/USD

0.6948

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

USD/CAD

1.2875

-0.0018 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (6)

EUR/JPY

143.43

+0.77 (+0.54%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

1.0128

+0.0019 (+0.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,823.45

-6.85 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

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Sell (3)

Silver Futures

21.282

+0.123 (+0.58%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

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Sell (1)

Copper Futures

3.7853

+0.0408 (+1.09%)

Summary

↑ Buy

Moving Avg:

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Sell (2)

Indicators:

Buy (11)

Sell (0)

Crude Oil WTI Futures

109.37

+1.75 (+1.63%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

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Brent Oil Futures

110.81

+1.71 (+1.57%)

Summary

↑ Buy

Moving Avg:

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Indicators:

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Natural Gas Futures

6.322

+0.041 (+0.65%)

Summary

Neutral

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Sell (4)

Indicators:

Buy (4)

Sell (4)

US Coffee C Futures

220.92

-2.33 (-1.04%)

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↑ Buy

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Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (1)

Euro Stoxx 50

3,539.95

+6.78 (+0.19%)

Summary

↑ Buy

Moving Avg:

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Sell (4)

Indicators:

Buy (7)

Sell (2)

S&P 500

3,918.73

+6.99 (+0.18%)

Summary

Neutral

Moving Avg:

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Buy (2)

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DAX

13,188.05

+69.92 (+0.53%)

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FTSE 100

7,254.69

+45.88 (+0.64%)

Summary

↑ Sell

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Sell (7)

Indicators:

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Sell (6)

Hang Seng

22,229.52

+510.46 (+2.35%)

Summary

↑ Sell

Moving Avg:

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Sell (11)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

1,778.30

+15.84 (+0.90%)

Summary

Buy

Moving Avg:

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Sell (4)

Indicators:

Buy (4)

Sell (2)

IBEX 35

8,249.93

+5.83 (+0.07%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

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Sell (1)

BASF SE NA O.N.

42.835

+0.620 (+1.47%)

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↑ Buy

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Sell (3)

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Buy (8)

Sell (1)

Bayer AG NA

59.35

+1.56 (+2.70%)

Summary

Sell

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Indicators:

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Sell (5)

Allianz SE VNA O.N.

181.68

+0.48 (+0.26%)

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Adidas AG

172.54

+2.18 (+1.28%)

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Deutsche Lufthansa AG

5.992

+0.026 (+0.44%)

Summary

↑ Buy

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Siemens AG Class N

104.32

+1.70 (+1.66%)

Summary

↑ Buy

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Deutsche Bank AG

8.880

-0.039 (-0.44%)

Summary

↑ Buy

Moving Avg:

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Sell (4)

Indicators:

Buy (10)

Sell (0)

 EUR/USD1.0612↑ Buy
 GBP/USD1.2307Neutral
 USD/JPY135.15↑ Buy
 AUD/USD0.6948↑ Buy
 USD/CAD1.2875↑ Sell
 EUR/JPY143.43↑ Buy
 EUR/CHF1.0128↑ Sell
 Gold1,823.45↑ Sell
 Silver21.282Buy
 Copper3.7853↑ Buy
 Crude Oil WTI109.37↑ Buy
 Brent Oil110.81↑ Buy
 Natural Gas6.322Neutral
 US Coffee C220.92↑ Buy
 Euro Stoxx 503,539.95↑ Buy
 S&P 5003,918.73Neutral
 DAX13,188.05↑ Buy
 FTSE 1007,254.69↑ Sell
 Hang Seng22,229.52↑ Sell
 Small Cap 20001,778.30Buy
 IBEX 358,249.93↑ Buy
 BASF42.835↑ Buy
 Bayer59.35Sell
 Allianz181.68↑ Buy
 Adidas172.54↑ Buy
 Lufthansa5.992↑ Buy
 Siemens AG104.32↑ Buy
 Deutsche Bank AG8.880↑ Buy
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SJC Eximbank6,775/ 6,845
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SJC HCM6,790/ 6,860
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Cập nhật 27-06-2022 22:36:04
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$1,822.14-8.81-0.48%
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Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
ↂ Giá dầu thô thế giới
WTI$108.24-2.81-2.66%
Brent$110.82-2.77-2.57%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.080,0023.390,00
EUR23.932,6125.273,13
GBP27.815,2929.001,83
JPY167,64177,48
KRW15,5718,97
Cập nhật lúc 18:53:21 27/06/2022
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