S&P/TSX 60 Dips 0.5% as Tourmaline Oil Soars 2.09% Amid Market Struggles
The S&P/TSX 60 index fell by 0.5% today, reflecting a minor decline over the past week but a solid 3.67% increase over the last month. In large-cap stocks, Tourmaline Oil Corp. led with a 2.09% gain, while Cameco Corp. struggled with a 3.88% loss. Mid-cap stocks showed similar trends, with ARC Resources Ltd. up 1.87% and The Descartes Systems Group down 3.16%. Small-cap stocks were mixed, highlighted by Sucro Ltd.'s impressive 9.52% return, contrasted by Orla Mining Ltd.'s significant drop of 11.08%. Overall, market breadth was negative, with more stocks declining than advancing.
The S&P/TSX 60 index experienced a decline of 0.5% today, reflecting a slight decrease of 0.02% over the past five days. However, the index has shown resilience with a notable increase of 3.67% over the last 30 days. In the large-cap sector, Tourmaline Oil Corp. emerged as the top performer, achieving a return of 2.09%. Conversely, Cameco Corp. struggled, posting a return of -3.88%. The mid-cap segment saw ARC Resources Ltd. lead with a return of 1.87%, while The Descartes Systems Group, Inc. lagged behind with a return of -3.16%.
Small-cap stocks displayed a mixed performance, with Sucro Ltd. standing out with a remarkable return of 9.52%. On the other hand, Orla Mining Ltd. faced challenges, recording a return of -11.08%.
Overall, the advance-decline ratio across the market indicated that 287 stocks advanced while 390 declined, resulting in a ratio of 0.74. In the large-cap category, only 14 stocks advanced against 36 that declined, yielding a ratio of 0.39. Mid-cap stocks had 19 advancing and 46 declining, with a ratio of 0.41, while small-cap stocks saw 148 advancing versus 181 declining, resulting in a ratio of 0.82.
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