Canadian Stocks Reverse Winning Streak, Led by Galaxy Digital

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Stocks in Canada slipped Friday, as the S&P/TSX Composite Index declined 0.8%, to 22059.03. The blue-chip S&P/TSX 60 dropped 0.8%, to 1,315.72.

Among large companies, Galaxy Digital Holdings posted the largest decline, dropping 5.9%, followed by shares of Kelt Exploration, which dropped 5.5%. Shares of Hammond Power Solutions fell 4.9%.

Hut 8 was the biggest gainer during the session, surging 11%, and Bitfarms surged 9.3%. Ivanhoe Electric rounded out the top three movers on Friday, as shares surged 6.9%.

Stock indexes in the U.S. increased with the Nasdaq Composite Index adding 0.9%. Meanwhile, the S&P 500 Index gained 0.5%, and the Dow Jones Industrial Average added 0.2%.

On the currency front, the WSJ Dollar Index fell 0.2%, to 99.81. Locally, the dollar was equivalent to CAD0.73, down 0.2%.

In the bond markets, the yield on 10-year Canadian government bonds declined 10.76 basis points, to 3.496%, and 10-year U.S. Treasury yields fell 0.08 basis point, to 4.282%.

Data source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 05, 2024 16:51 ET (20:51 GMT)

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