bestperformingstocks
Uranium has broken out, with the spot price rising to a 16 year high of US$106 per pound in early 2024. Despite a pullback to about US$85, prices were still nearly 55 percent higher than this time in July last year. Although the market's turnaround has taken time, experts are predicting a bright future as countries around the world pursue clean energy goals. Against that backdrop, ASX-listed uranium companies have been making moves in 2024. Below the Investing News Network has listed the best uranium stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener ...
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Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. According to Grandview Research, the global biotech market was worth US$1.55 trillion in 2023, and the firm expects it to grow at a CAGR of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion. In Canada, the biotech industry is home to companies pursuing cutting-edge therapies and medical technologies, and the Investing News Network has identified the top three biotech stocks based on their year-on-year gains. Data on Canadian biotech stocks was collected on July 2, 2024, us...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 0.89 points last week to close at 569.82. The US Bureau of Economic Analysis released its latest personal consumption expenditures (PCE) data this past Friday (June 28) in its Personal Income and Outlays report. The PCE minus food and energy is the favored index of the US Federal Reserve. The report stated that the PCE price index rose 2.6 percent year-over-year in May, and increased just 0.1 percent month-over-month compared to April. This year-over-year increase marks the lowest since March of 2021, the last time it was below the central...
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Gold has set records in nearly every currency this past year, and it smashed through Australian records on April 22 when it reached AU$3,638.01. The price has seen a pullback since that time but continues to trend near historical highs. As for gold's US dollar price, it hit an all-time high of US$2,450.05 on May 20. The meteoric gains of 2024 come on the back of several factors including continued purchases by Central Banks in Asia, an improving economic situation in the United States and continued geopolitical instability including the potential for regional escalation of tensions between Isr...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 3.38 points last week to close at 570.71. Statistics Canada released its mining statistics for 2022 this past Thursday (June 20). The data shows that metal ore mining brought in C$39.11 billion to the economy for the year, an increase of around C$636.8 million from 2021. Leading the way were the base metals copper, nickel, lead and zinc with C$13.2 billion in combined revenue; nickel-copper ore mining headlined the section with revenue of C$7.23 billion. Its own category, iron ore mining brought in C$10.65 billion in revenue, while revenue...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 14.16 points last week to close at 574.09. Markets saw a significant recovery this past Wednesday (June 12) following the release of the latest US consumer price index (CPI) data and the US Federal Reserve’s interest rate policy decision. The May CPI figures show a 0 percent change month-on-month and a 3.3 percent increase on an annual basis. Those are declines from April’s 0.3 percent monthly increase and 3.4 percent year-on-year figure. The improved inflation data wasn’t enough to sway the Fed, and after wrapping up its meeting it said i...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined 23.41 points last week to close at 588.25. Gold was under pressure following reports on Friday (June 7) that the People’s Bank of China paused purchases of gold in May, ending an 18 month spree. Central bank buying has provided critical support for gold in 2023 and 2024. In the first quarter of the year, China added 189 metric tons (MT) of the yellow metal to its reserves, but as gold sector expert Jan Nieuwenhuijs notes in a May 22 article, much of the Asian nation's buying has gone unreported. Gold saw additional losses on Friday as ...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 3.71 points last week to close at 611.66. Statistics Canada released Q1 gross domestic product (GDP) numbers this past Friday (May 31). In the report, the agency said real GDP rose 0.4 percent quarter-over-quarter, up from 0.2 percent in the fourth quarter of 2023. A contributing factor was higher household spending on services, but growth was moderated by slower inventory accumulations. GDP for the mining, quarrying and oil and gas sector decreased by 0.5 percent in March, with a 3.9 percent decline in mining and quarrying, the biggest ...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95. Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March. Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37. South of the border, t...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17. Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange. The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings see...
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