he Canadian Stock Market Outlook for Thursday was for the TSX Composite Index to try to bounce and try to close positive although weakness definitely remains. The TSX did try to bounce, pushing to 13,758.90 before closing at 13,632.01 up by only 0.01 point.
TSX Composite Index Flat at 0.01 Point Gain
After rallying to within less than 50 points of 13800, the TSX moved back and closed virtually flat on Thursday.
Canadian Stocks In The News
National Bank of Canada fell 33 cents to close at $42.20 on the news that it was setting aside 250 million in the quarter for poor or non-performing loans in the energy sector. This news brought pressure on all the bank stocks with Bank of Nova Scotia being the hardest hit, again, with a drop of 1.13% and a close below $62. The drop in BNS Stock was surprising consider the lack of exposure to the oil sector. Meanwhile CIBC Stock closed up 26 cents at $98.21 while Royal Bank Of Canada stock closed unchanged.
Suncor Stock fell 2.98% to $33.16 on worries about its bottom line with oil production cut due to the wildfires in Fort McMurray, Alberta………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for May 6 2016
FullyInformed Members can log in through this link to read the latest Canadian Stock Market Outlook for tomorrow for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.
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