TSX Market Highlights – August 2023

Overview:

August 2023  saw a drop on the Toronto Stock Exchange (TSX). Analysts point at the rising inflation rate and potential ideas of recession as the reasons.

New Listings:

During the month of August 2023, the TSX and TSXV had 150 new listings of which 86 were listed in TSX and 64 TSXV.  Among which companies were 50, ETFs were 73 and CPCs were 27. Next to ETFs and CPCs, it’s Mining companies who have been listed the most in TSX and TSXV in August 2023. 

Equity raised:

CAD 9.5 Billion Equity capital was raised both on TSX and TSXV.

Economic Trends:

Canada’s economy is projected to have expanded by 0.1% in August 2023. This growth was driven by increases in the wholesale trade and finance and insurance sectors, although it was partially offset by declines in the retail trade and oil and gas extraction sectors. 

Our interest rate was made to remain at 5% after this tough decision taken in June and July through monetary policies. The economy is also witnessing slowing demand.

Sector Performance:

During August 2023,  services-producing industries grew by a modest 0.1%, oil and gas up by 4.2%), accommodation and food services up by 2.3%). In contrast, the retail industry went down by 0.3%, 1.5% down in the manufacturing industry. Culprits are the labor market issues, high interest rates, and high inflation

CAD

Cad depreciated by 2.36% month to date. Up by 0.3% since the start of this year.

Disclaimer: This commentary is for informational purposes only and should not be considered financial advice. Investing in the stock market involves risks, and individuals should conduct their research and consult with a financial advisor before making investment decisions.