Stock market: winners and losers of the day

Broad strength on the Toronto Stock Exchange, fueled by the base metals, financials and information technology sectors, allowed it to close higher.

It was further a recovery from last week, which saw the TSX benchmark index lose more than 2% in five days.

To monitor

The Bank of Canada is probably near the end of its hike cycle after last week’s decision, but it is too early to say it is finished, said Ms. Djataou.

The U.S. Federal Reserve is also expected to maintain rates next week, but a hike could still happen later this year, Djataou said.

“Inflation, at this point, is somewhat of a moving target,” she argued, adding that central banks need to keep the door open to further increases to avoid a radical shift in expectations. of the market.

The Bank of Canada will monitor the Fed, because if the gap between the two banks’ key rates were to widen, it could put pressure on the Canadian dollar, she explained.

Currently, the Bank of Canada’s overnight rate is 5.00%, while the Fed’s federal funds target range is between 5.25% and 5.50%.

“I believe that this difference of half a percentage point is something that will be difficult to overcome without having a significant impact on the Canadian dollar,” noted Ms. Djataou.

Here are the winners and losers for September 11, 2023:

Only titles worth more than $1 are considered in the Winner/Loser ranking.