Energy companies dominate TSX's list of top 30 stocks over past 3 years

📆 12/09/2023 10:22 م
📰 YahooFinanceCA

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Shares of the 30 companies have surged more than six times on average over the past three years after adjusting for dividends and together added over $120 billion in market value, according to TSX. Of those, 20 were energy firms with Paramount Resources and NuVista Energy topping the list with their 1,913% and 1,279% surge. Energy stocks closely track oil prices, which have surged more than 84% since the end of 2020 fuelled by a recovery in demand as economies opened up after COVID-19 lockdowns, supply constraints due to the Russia-Ukraine conflict and production curbs by OPEC+.

The Federal Reserve is done raising interest rates and will likely cut them by roughly one percentage point next year, according to chief economists at some of North America’s largest banks.VLADIVOSTOK, Russia -Russian President Vladimir Putin on Tuesday praised the central bank for keeping a lid on inflation with double-digit interest rates and said there were no insurmountable challenges when it came to limiting the rouble's volatility.

-- China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the managed currency away from a 16-year low.

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