TSX today: Energy stocks drop as oil falls below US$100 - BNN Bloomberg

New Gold was the lead laggard on the TSX as shares tumbled 26 per cent to $0.93 per share mid-day Tuesday after the miner slashed its production outlook for this year and warned of higher costs and expenses amid a setback at its Rainy River operations.

Despite crude falling below US$100 per barrel, some investors still think energy company valuations remain attractive. “But I think we continue to see tighter supply and if the economy starts to turn around in the back half of 2023 or 2024, I think that bodes well for energy stocks and I do think that they remain attractively valued at this point.”

“Now the question becomes can Canada afford 75 basis points, given our large reliance on the housing market, on financial assets and the like to basically drive consumer spending?” Lyle Stein, the president of Forvest Global Wealth Management Inc., said in an interview Tuesday.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

U.S. equity futures drop with stocks; Twitter slumps - BNN BloombergUS equity futures dropped along with European stocks Monday as traders await the key second-quarter earnings season for indications on how companies are weathering the inflation storm
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

TSX opens lower as tech stocks slide - BNN BloombergCanada’s benchmark stock index was dragged lower by tech stocks Monday morning as investors shifted into risk-off mode.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

Tech stocks drag on TSX ahead of BoC decision this week - BNN BloombergTech stocks led a broad-based decline on the TSX on Monday as investors looked ahead to a Bank of Canada interest rate decision and U.S. inflation data later this week.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »