The Canadian Markets started the trading week in a sour mood with the bears coming out of retirement to rain on the bulls’ parade during Monday’s session.
The gold guys continued to be the best performers during Wednesday trading on the Canadian markets as the price of bullion broke out to the upside. For the tale of the tape, the TSX Exchange dropped 0.91%, while the TSX Gold Index surged 7.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.02% with the advancing issuers edging out the decliners by a 405 to 343 margin on 163 million shares traded.
The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.
It was another rough morning for those long the resource-rich Canadian Markets as talk of rising interest rates and a stronger United States dollar prompted more selling, but a late afternoon buying binge pushed the bigger board back into the black by the close of Tuesday trading.