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Village Farms International's Balance Health Botanicals Expands Product Portfolio with Launch of Innovative Synergy Collection

VANCOUVER, BC, Oct. 26, 2021

VANCOUVER, BC, Oct. 26, 2021 /PRNewswire/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) (TSX: VFF) today announced its wholly owned subsidiary, Balanced Health Botanicals™ (“Balanced Health”), a family of hemp-derived CBD brands, including its flagship brand CBDistillery™, has expanded its product portfolio with the launch of its innovative Synergy Collection, which was developed to enhance the multitude of benefits offered by the hemp plant beyond CBD alone.

Village_Farms_International__Inc__Village_Farms_International_s.jpg

The Synergy Collection, consists of the Balanced Health’s first ever CBD + Functional Mushroom (non-hallucinogenic), Kava Root[1], and CBDA (Cannabidiolic Acid) products, along with CBDistillery’s™ top-selling CBG (Cannabigerol) & CBN (Cannabinol) formulations. Each product in the Synergy Collection was designed with a goal of enhancing the entourage effect, which may occur when all hemp plant elements like cannabinoids, terpenes and other compounds work together in synergy, allowing consumers the ability to select products based on their needs and individual product benefits rather than combining various supplements to achieve a desired effect. The Synergy Collection by CBDistillery™ introduces a new line of tinctures, vegan-friendly capsules, and drink mixes, as well as all-new CBG + CBD and CBN + CBD gummies across four categories: Daytime Synergy, Sleep Synergy, Raw Synergy and Wellness Synergy.

“The launch of this truly innovative product line marks a significant milestone in the evolution of the CBDistillery product pipeline that we believe further strengthens its positions as a top-five US CBD brand1 and a top-ranked web site within the CBD category,” said Michael DeGiglio, CEO, Village Farms International. “The Synergy Collection not only allows Balanced Health to continue to build product offerings that have full-spectrum CBD, as well as other cannabinoids and other all-natural ingredients such as THC and, importantly, supporting the opportunity for more diverse wellness product line in the future.”

“We’re very excited to launch our new and much anticipated Synergy line,” said Chase Terwilliger, CEO of Balanced Health Botanicals. “We’ve touted the importance of the ‘entourage effect’ in our flagship CBD-rich Full Spectrum Hemp Extracts since day one. The Synergy Collection is expected to take it to the next level, from our popular ratios of minor-cannabinoid blends along with proven plant-based dietary ingredients, we couldn’t be more excited for our customers to experience everything these products have to offer. This line is like no-other – the culmination of years developing these formulas, which we believe can dramatically improve the quality of our customers’ lives. We look forward to expanding this collection by introducing additional beneficial minor cannabinoids, terpenes, as well as combining other plant-based dietary ingredients to leverage the benefits of the hemp plant.”

For more information on BHB’s CBDistillery™ Synergy Collection and the brand’s mission, please visit: cbdistillery.com/synergy

_____________________

1 Kava Root is not a controlled substance in the USA, but is subject to regulatory controls in Canada and other countries. The Synergy Collection will not be available in such markets.

About Balanced Health Botanicals

Balanced Health Botanicals™ (BHB) is a family of hemp-derived CBD brands that includes CBDistillery™ and BOTA™. Flagship brand CBDistillery™ was founded in Denver in 2016 to pursue a rapidly growing and predominantly untapped market. It has since evolved into one of the largest CBD brands in the market, sold in retailers nationwide. The all-new BOTA™ is a line of premium plant-powered skincare and supplements that combines powerful natural botanicals with hemp-derived CBD. BHB’s mission is to provide the highest quality, U.S. grown, hemp-derived CBD products at everyday premium pricing and to be the premier CBD education resource. BHB has made significant investments in its infrastructure, supply chain capabilities, world-class manufacturing facilities, and product portfolio to solidify itself as the leader of the #CBDMOVEMENT™.

About Village Farms International, Inc.

Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, along with new high-growth opportunities in the cannabis and CBD categories in North America and selected markets internationally.

In Canada, the Company’s wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of the best-selling brands.

In the US, wholly owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms’ cannabis success in Canada.

Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential, with an initial focus on the Asia-Pacific region and Europe.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable U.S. and Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “try”, “estimate”, “predict”, “potential”, “proposed”, “designed”, “continue”, “likely”, “schedule”, “objectives”, “can” or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts, although not all forward-looking statements contain these identifying words. The forward-looking statements in this press release are subject to risks that may include, but are not limited to Company’s expansion plans, expectations regarding cannabis and CBD categories in North America, and selected markets internationally and risks associated with compliance with US and Canadian regulations. The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, that may cause the Company’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company’s filings with securities regulators available on SEDAR and EDGAR. When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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SOURCE Village Farms International, Inc.

This Day in Market History: The Toronto Stock Exchange Launches

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened

On this day 158 years ago, the Toronto Stock Exchange (TSE) was founded.

Where the Market Was

The TSE predates both the Dow Jones Industrial Average and the S&P 500.

What Else Was Going On In The World?

In 1861, Abraham Lincoln was sworn in as the 16th U.S. president. The Battle of Fort Sumter marked the beginning of the Civil War. Union privates fighting in the Civil War earned a wage of $13 per month in 1861.

TSE’s Modest Launch

In October 1861, a group of 24 brokers assembled at the Masonic Hall in Toronto to participate in the TSE, which initially included listings for just 13 stocks. The TSE expanded to 18 listings in 1868.

The exchange continued to grow over time, moving to a new trading floor in an Art Deco building on Bay Street in 1936. At the time, the TSE had become the third-largest stock exchange in North America.

The TSE made the transition to the digital age in 1977 when it launched its Computer Assisted Trading System, or CATS.

In 2001, the TSE merged with the Canadian Venture Exchange, creating TSE parent company TSX Group.

As of the end of 2017, the TSE had 1,501 listings worth a combined market cap of more than $2.2 trillion.

By Wayne Duggan

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga

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TSX futures flat as all eyes turn to BoC meeting this week

(Reuters) – Futures for Canada’s main stock index struggled for direction on Monday ahead of a policy announcement from the Bank of Canada this week, with investors also keeping watch on miners and energy stocks in the face of rising commodity prices.

The central bank is facing increasing pressure to hike interest rates ahead of schedule when it meets on Wednesday, amid hot inflation and a recovering job market in Canada.

Oil prices rose further, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide, while prices of gold also edged higher. [MKTS/GLOB]

December futures on the S&P/TSX index were up 0.02% at 07:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended flat on Friday. [.TO]

Dow e-minis were up 7 points, or 0.02% at 7:35 a.m. ET on Monday, while S&P 500 e-minis were up 4.75 points, or 0.1% and Nasdaq 100 e-minis were up 35.25 points, or 0.23%. [.N]

TOP STORIES [TOP/CAN]

Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc, to miss estimates for quarterly revenue on Monday.

An investor group led by Canadian real estate company Canderel has agreed to take Cominar REIT private in a C$2.14 billion ($1.73 billion) deal, as it looks to expand its presence in Montreal, Quebec City and Ottawa.

Demand has jumped for relatively cheap Canadian natural gas, driving exports to the United States to three-year highs and prompting producers in Canada to boost capital spending and drilling activity.

COMMODITIES AT 7:30 a.m. ET

Gold futures: $1,800.1; +0.2% [GOL/]

US crude: $84.66; +1.24% [O/R]

Brent crude: $86.28; +0.8% [O/R]

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 0.8083 Canadian dollars)

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shailesh Kuber)

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

S&P/TSX composite down as tech sector pulls back, U.S. stock markets mixed

CALGARY –

Canada’s main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.

The S&P/TSX composite index closed up just 3.76 points at 21,216.15, but specific sectors saw more individual movement, said Greg Taylor, chief investment officer with Purpose Investments.

“(The market) looked relatively flat today, but under the surface there was a lot of sector rotation going on,” Taylor said.

The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year.

The December crude oil contract was up $1.26 at US$83.76 per barrel and the January natural gas contract was up 10 cents at US$5.56 per mmBTU.

Taylor said Canadian energy companies are expected to generate a lot of free cash flow at these commodity prices.

“I think that’s really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It’s a sector that’s doing very well, but it’s very under-owned. And people are starting to come back to it.”

The price of gold also moved higher Friday, likely on concerns over inflation, Taylor said. The December gold contract was up US$14.40 at US$1,796.30 an ounce while the December copper contract was down six cents at US$4.50 a pound.

However, gains in energy as well as the industrials and materials sectors were somewhat offset by losses on the technology side. The S&P/TSX capped information technology index was down 1.83 per cent. Taylor said this can be partly attributed to disappointing quarter results from U.S. tech giants Intel Corporation and Snap Inc., the parent company of Snapchat.

“Technology’s an area that’s had a pretty good run the last few weeks, but it looks like it’s under pressure today and that’s taken down Shopify and some of the other Canadian names,” he said.

Shares in Shopify Inc. closed at $1,764.23, down 86.25 points or 4.66 per cent.

In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.

The Canadian dollar traded for 80.93 cents US compared with 80.97 cents US on Thursday.

Canadian telecom giant Rogers Communications Inc. grabbed headlines this week due to an escalating boardroom fight between the company and Edward Rogers, who was removed as Rogers chair Thursday but remains chair of the family trust that controls the company.

However, the company’s share price remained relatively flat, closing at $60.02, down just 0.28 per cent.

Taylor said the lack of movement is probably a sign that investors still expect the $26-billion deal Rogers signed earlier this year to take over rival Shaw Communications Inc to go through.

“As much as the boardroom activities are interesting, it doesn’t seem to be impacting the share price too much,” Taylor said.

This report by The Canadian Press was first published Oct. 22, 2021.

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