Daily Wrap-Up: TSX closes as oil recovers some losses

Daily Wrap-Up: TSX closes as oil recovers some losses

Daily Wrap-Up: TSX closes as oil recovers some losses TSX closes as oil recovers some losses
Oil prices remain below $45 but there was some recovery Friday, enough to give the energy sector of the main TSX a boost.

That gain along with positive ends to the session for utilities, telecoms and financials, saw the index close with a small gain, beating the performance of Wall Street which closed mixed.

European and most Asian indexes closed higher.

Gold prices were flat having stabilized after the Fed’s interest rate rise.

The S&P/TSX Composite Index closed up 32.12 (0.21 per cent)
The Dow Jones closed up 24.38 (0.11 per cent)
Oil is trending higher (Brent $47,32, WTI $44.71 at 5.00pm)
Gold is trending lower (1255.00 at 5pm)
The loonie is valued at U$0.7562

Canadian investors sold almost $10 billion of foreign securities
There was a large divestment of foreign securities by Canadian investors in April.

The latest Statistics Canada data on Canadian international securities transactions shows that investors sold $9.9 billion in foreign debt securities and equities, the largest divestment since January 2016.

Meanwhile, foreign investors acquired $10.6 billion of Canadian securities, meaning a net inflow of funds into the Canadian economy of $20.5 billion in April.

There were 100,000 more millionaire households in Canada in 2016
Canada was fifth in the rankings for countries with the most millionaire households in 2016 with 100,000 added during the year.

The BCG wealth report shows that there were 485,000 millionaire households, behind the US, China, Japan and Britain.

The report does not include the rising value of primary homes, so the gains are due largely to gains in other investments, especially equities.

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