Canada Stocks Regain 400 Pts or 2%; Lightspeed, Dye & Dunham and Blackberry Lead the Gains

Last Updated: Friday, May 13, 2022 4:07 PM | MT Newswires

Canada's main stock market, the Toronto Stock Exchange, on Friday regained 400 points or 2%, likely on some bargain buying after the Index had lost almost four times that amount over the prior five trading days.

All sectors were higher. Among heavyweights, Energy was up 3%, Materials up 1.4% and Financials up near 1.5%. And among individual stocks, telcos Lightspeed (LSPD.TO) jumped more than 30% and Blackberry gained 13%. Dye & Dunham regained more than 14% after recent losses.

Of commodities, gold fell to fresh three month lows on Friday as the US dollar continues to appreciate while bond yields rose on expectations for higher US interest rates. Gold for June delivery closed down $16.40 to US$1,808.20 per ounce, the lowest since early February.

But West Texas Intermediate crude oil rose as the European Union continues to struggle to move ahead with a ban on Russian oil imports. WTI crude for June delivery closed up $4.36 to US$110.49 per barrel, Marketwatch reported. July Brent crude, the global benchmark, was last seen up $4.23 to US$111.68 while Western Canada Select was up $3.06 to US$96.11 per barrel.

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