August 13, 2020

The Toronto Stock Exchange resumes its operations with losses of 4.36%



The Toronto Stock Exchange (TSX), the largest in Canada and one of the most important in North America, opened Friday with heavy losses after Thursday the TMX operator was forced to suspend operations due to “technical” problems.

At 10.00 local time (17.00 GMT), 30 minutes after the opening of the Canadian parquet, the TSX index lost 728 points, 4.36% of its value, and stood at 15,988.6, losses higher than those Main US markets

The S&P index lost 3.6% of its value, the same figure as Dow Jones, while the NASDAQ stood at 3.1% due to fears of the expansion of the new Covid-19 coronavirus, which can be converted into a pandemic

Losses in TSX, a stock exchange specialized in natural resource companies, reflected the fall in the price of oil that was quoted at $ 45.05, a loss of 4.33%. Canada is one of the largest oil producers in the world and is also one of the three main countries in terms of proven reserves.

The fall in the price of oil placed crude oil at its lowest level in more than a year and is about to become the most pronounced weekly fall in four years.

Yesterday, TMX was forced to suspend TSX operations as well as the TSX Venture Exchange and TSX Alpha junior markets due to a problem with “the system capacity in the messaging component of the TMX transaction engine”.

The Canadian market also registered a high volume of transactions, with the sale of 232.6 million shares, above the average but below peak days such as December 20, 2019, when 465.8 million shares were exchanged.

The problem also affected the Montreal Stock Exchange (TSM), the second most important in Canada.

By the time TSX stopped all operations, the stock index lost 324 points, almost 2% of its value, although the losses had reached 585 points during the day.

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