STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Energy companies including Paramount Resources and NuVista dominated the list of 30 best performing Canadian stocks over the past three years, an annual ranking by the Toronto Stock Exchange showed on Tuesday.
Of those, 20 were energy firms with Paramount Resources and NuVista Energy topping the list with their 1,913% and 1,279% surge. The energy sector has the second biggest influence on the Toronto Stock Exchange's $2.37 trillion S&P/TSX composite index, which houses 226 companies and has climbed 24.4% in the past three years.
In comparison, the much larger $37.49 trillion Wall Street benchmark S&P 500, which is largely skewed towards technology companies, has climbed 34.2% in the same period.
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S&P/TSX composite rises despite energy weakness, U.S. stock markets also post gainTORONTO — Broad-based strength led by base metal, financial and tech stocks gave Canada's main stock index post a gain Monday despite weakness in energy, while U.S. stock markets also rose to start the trading week, led by technology. The S&P/TSX composite index was up 108.11 points at 20,182.76. In New York, the Dow Jones industrial average was up 87.13 points at 34,663.72. The S&P 500 index was up 29.97 points at 4,487.46, while the Nasdaq composite was up 156.37 points at 13,917.90. The Canad
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TSX rises despite energy weakness, U.S. stock markets also post gainTORONTO — Broad-based strength led by base metal, financial and tech stocks gave Canada's main stock index a boost Monday despite weakness in energy, while U.S. stock markets also rose to start the trading week, led by technology names.
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S&P/TSX composite rises despite energy weakness, U.S. stock markets also post gainThe S&P/TSX composite index was up 108.11 points at 20,182.76
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Energy companies dominate TSX's list of top 30 stocks over past 3 yearsShares of the 30 companies have surged more than six times on average over the past three years after adjusting for dividends and together added over $120 billion in market value, according to TSX. Of those, 20 were energy firms with Paramount Resources and NuVista Energy topping the list with their 1,913% and 1,279% surge. Energy stocks closely track oil prices, which have surged more than 84% since the end of 2020 fuelled by a recovery in demand as economies opened up after COVID-19 lockdowns, supply constraints due to the Russia-Ukraine conflict and production curbs by OPEC+.
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Investors drawn to oil and gas, energy transition, TSX top 30 list showsCALGARY — Both traditional oil and gas stocks as well as Canada's mining and metals sector have benefited from a recent surge of investor interest in energy, new data from the Toronto Stock Exchange shows.
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Investors drawn to oil and gas, energy transition, TSX top 30 list showsCALGARY — Both traditional oil and gas stocks as well as Canada's mining and metals sector have benefited from a recent surge of investor interest in energy, new data from the Toronto Stock Exchange shows. The 2023 TSX 30 list, released by the exchange on Tuesday, is a ranking of the 30 top-performing stocks over a three-year period, based on dividend-adjusted share price performance. This year's ranking is heavily dominated by the oil and gas sector, which make up 50 per cent of the list. In th
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