TSX and TSXV Bounce Back Thursday Morning

The S&P/TSX Composite Index (INDEXTSI:OSPTX) spent most of Wednesday (April 4) recovering from opening losses. It almost broke even by close when it reached 15,164.37, a 16.39-point drop.

The index had a more steady start on Thursday (April 5) when it picked up 118.01 points to reach 15,282.38.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fumbled 5.52 points on Wednesday to close the day at 763.78. The TSXV gradually worked on its comeback Thursday morning as it gained 3.02 points, hitting 766.8.

Drops in healthcare and materials stocks brought the TSX down, as Aurora Cannabis (TSX:ACB) fell 4.7 percent and Canopy Growth (TSX:WEED) lost 11 cents. Meanwhile, First Quantum Minerals (TSX:FM) dropped 1.9 percent and Agnico Eagle Mines (TSX:AEM) saw a similar fate when it lost 1.5 percent.

The Dow Jones Industrial Average (INDEXDJX:.DJI) made an impressive recovery on Wednesday following China’s tariffs announcement; it managed to pick up 230.94 points to close at 24,264.3. Thursday morning continued the Dow’s green streak as it gathered 203.64 points to reach 24,467.94.

The S&P 500 (INDEXSP:.INX) rebounded on Wednesday with a 30.24-point boost, finishing the day at 2,644.69. The index stayed strong on Thursday morning as it picked up 15.46 points to hit 2,660.15.

Gains in consumer stocks gave the S&P a push forward yesterday, while solid performances from tech giants Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM) and Apple (NASDAQ:AAPL) lent the markets some help towards their rebound.

Note: All numbers shown above were accurate as of 10:00 a.m. EST.

Daily metals

Gold closed at US$1,333.35 per ounce on Wednesday. Thursday morning saw the precious metal fall to US$1,327.05. Silver closed at US$16.32 per ounce on Wednesday, but made gains on Thursday morning when it rose to US$16.36.

Copper closed at US$3.01 per pound on Wednesday, but the commodity bounced back on Thursday morning when it rose to US$3.08.

Major miner news

• Eldorado Gold (TSX:ELD,NYSE:EGO): An arbitration panel in Greece has ruled in favour of Eldorado Gold in an arbitration initiated by the Greek State. The state had put forth a motion claiming that Eldorado’s subsidiary company, Hellas Gold, had breached the transfer contract between the company and the state through its technical study for its Madem Lakkos metallurgy plant.

• IAMGOLD (TSX:IMG,NYSE:IAG): The company has filed its final base shelf prospectus, which will allow it to make offerings of assets such as common shares, first and second preference shares, debt securities, warrants and subscription receipts of up to US$1 billion anywhere in the US or Canada, excluding Quebec.

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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.