{"id":1579726,"date":"2022-07-29T18:10:15","date_gmt":"2022-07-29T22:10:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1579726"},"modified":"2022-07-29T18:10:25","modified_gmt":"2022-07-29T22:10:25","slug":"toronto-market-snaps-monthly-losing-streak-as-earnings-impress","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/toronto-market-snaps-monthly-losing-streak-as-earnings-impress\/","title":{"rendered":"Toronto market snaps monthly losing streak as earnings impress"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftoronto-market-snaps-monthly-losing-streak-as-earnings-impress%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1579726&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Fergal Smith<\/p>\n<p>TORONTO (Reuters) \u2013     Canada\u2019s resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter. <\/p>\n<p>The Toronto Stock Exchange\u2019s S&#038;P\/TSX composite index ended up 236.21 points, or 1.2%, at 19,692.92, its highest closing level since June 13.<\/p>\n<p>For the month of July, the index was up 4.4%, its first monthly advance since March.<\/p>\n<p>Boosting the index, oil major Imperial Oil Ltd gained 3.9% after reporting a more than six-fold jump in second-quarter profit as the energy company benefited from a surge in energy prices after the Russian invasion of Ukraine.<\/p>\n<p>\u201cIt is really encouraging to see the special dividends and buybacks being announced by these companies,\u201d said Greg Taylor, portfolio manager at Purpose Investments. \u201cIt\u2019s a good reminder for investors as to how much cash flow is being generated by the big energy companies.\u201d<\/p>\n<p>Energy stocks advanced 2.9% as oil prices climbed ahead of next week\u2019s OPEC+ meeting, with expectations dimming that the producer group will imminently boost supply. U.S. crude oil futures settled 2.3% higher at $98.62 a barrel. <\/p>\n<p>Energy has been the best performing sector so far this year on the Toronto market, up 45%. Its heavy weighting has helped the TSX outperform some major U.S. and European peers.     <\/p>\n<p>Graphic: Energy stocks lift the resource-heavy Toronto index, https:\/\/fingfx.thomsonreuters.com\/gfx\/mkt\/gdpzylxajvw\/EnergyTSX.PNG<\/p>\n<p>The materials group, which includes precious and base metals miners and fertilizer companies, added 2.4% as gold and copper prices rose.<\/p>\n<p>Other cyclical sectors, such as industrials and financials, also gained ground as data showed that the Canadian economy likely grew at an annualized rate of 4.6% in the second quarter, above the Bank of Canada\u2019s projection.<\/p>\n<p> (Additional reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli and Will Dunham)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2732096\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6S0JM-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6S0JM-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fergal Smith TORONTO (Reuters) \u2013 Canada\u2019s resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1579726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1579726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1579726"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1579726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1579726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1579726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1579726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}