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Stockhouse @ the Bell: Energy highest in 5 years on oil surge

Stockhouse Editorial
0 Comments| March 7, 2022

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Canada’s main stock index saw early movement on Monday, given the rally in energy shares to a high not seen in five years on the back of the rise in oil prices, but that 100-point lead came crashing down by market's close. The conflict in Ukraine deepened amid mounting calls for stiffer sanctions against Russia, global markets continued their trend south. The price of gold briefly jumped above $2,000 an ounce as investors bought the precious safe haven metal in this time of crisis. Utilities had a lead on the few other sectors to close higher, followed by telecoms.

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As the United States and its European allies considered banning Russian oil imports, concerns flared up around its impact on growth. Crude prices rose to their highest levels since 2008 and are up more than 60% since the start of 2022. Some analysts are also losing confidence in the S&P 500’s performance this year, warning that the index could dip to the 3,600 level.

Today in the Markets

TSX 21,304.40 -98.3 Click to enlarge
TSXV 840.21 -7.03 Click to enlarge
CSE 402.56 -19.44 Click to enlarge
DJIA 33,817.38 -797.42 Click to enlarge
NASDAQ 13,830.96 -482.48 Click to enlarge
S&P 500 4,201.09 -127.78 Click to enlarge

The Canadian dollar traded for 78.33 cents US compared with 78.96 cents US on Friday.

Crude oil prices were up 2.91 to $119.80.

The price of gold was up 21.20 to $ 1,987.80.

In world markets, the Nikkei was down 764.06 points to 25,221.41, the Hang Seng was down 847.66 points to 21,057.63, the FTSE was up 1.44 point to 6,988.58, and the DAX was down 259.89 points to 12,834.65.


Top 10 Bullboards:

Company Ticker Views
Vermilion Energy Inc. T.VET 3145
Baytex Energy Corp T.BTE 2933
Athabasca Oil Corp T.ATH 1731
CGX Energy Inc V.OYL 1440
SUNCOR ENERGY INC. T.SU 1311
Datametrex AI Ltd V.DM 1291
New Found Gold V.NFG 1287
Sherritt International Corporation T.S 1260
Theralase Technologies Inc. V.TLT 1211
Ivanhoe Mines Ltd. T.IVN 1151

Today in the News:

Alphamin Resources Corp. | Alphamin Announces Q4 and FY2021 Results/ Achieves Record Fourth Quarter EBITDA and Production
Green River Gold Corp | Green River Gold Corp. Intercepts 17.99% Magnesium and 0.19% Nickel over 10 Meters at the Quesnel Nickel/Talc Project
RooGold Inc | Carlos Espinosa Officially Joins RooGold as Chief Executive Officer
St. James Gold Corp A | ST. JAMES GOLD CORP. (TSX-V: LORD) PROVIDES COMMENTARY ON SPOT GOLD MARKET PRICE CROSSING OVER $2,000/OZ
Global Energy Metals Corp. | Global Energy Metals Announces Increase to Private Placement Offering and Intended Closing of First Tranche
Black Tusk Resources Inc. | Black Tusk Resources Inc. to Complete Geophysical Survey Mogold Project, Val d'Or, Quebec
FansUnite Entertainment Inc. | FansUnite Granted License to Become Fully Registered Gaming Related Supplier in Ontario
Cybin Inc. | Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) Leads Out in Psychedelic-Based Therapeutics Space
Rockcliff Metals Corp | Rockcliff Intersects High Grade Mineralization at Copperman with 4.0% CuEq Across 2.9 Metres Including 18.3% CuEq Across 0.5 Metres
Zoomd Technologies Ltd | ZOOMD TECHNOLOGIES ANNOUNCED PRELIMINARY 4Q2021 FINANCIAL RESULTS HIGHIGHTED BY 181% YOY REVENUE GROWTH
Alphamin Resources Corp. | ALPHAMIN ANNOUNCES MAIDEN MINERAL RESOURCE ESTIMATE AND POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR MPAMA SOUTH
Mednow Inc. | Mednow Enters Into Agreement to Acquire Mednow East Inc. in Ontario
Geodrill Ltd. | GEODRILL DELIVERS RECORD FINANCIAL RESULTS FOR 2021 FOURTH QUARTER AND YEAR END
Manitou Gold Inc | Manitou Gold Announces Agreement to Sell 100% Interest in its Dryden Properties
Bunker Hill Mining Corp | Bunker Hill Announces Signing of Asset Purchase Agreement with Teck for Pend Oreille Process Plant
Else Nutrition Holdings Inc. | Else Nutrition to Present Significant Pre-Clinical Study and Parent Survey at 54th Annual Meeting of The European Society for Paediatric Gastroenterology, Hepatology and Nutrition (ESPGHAN)
Vejii Holdings | Vejii Announces Launch of Blender Bites Through its Fulfillment Program in Canada
i-80 Gold Corp. | i-80 Gold Commences Underground Development Program at McCoy-Cove
Baselode Energy Corp. | Baselode Intersects Three New Holes with Elevated Radioactivity, Including the Highest Levels of Radioactivity To Date on ACKIO High-Grade Uranium Discovery
Metal Energy Corp. | Metal Energy Now Drilling on its High-Grade Nickel Manibridge Project



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