VANCOUVER, BC, Oct. 26, 2021

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.

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(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)

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.

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.

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.

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.

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.

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.

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.