Article source: ConstructConnect
As of January 31, 2022’s closing values, the Toronto Stock Exchange (TSX) registered the strongest year-over-year advance among North America’s four major stock market indices (Table 1). Its lead over the S&P 500 index in second place, however, was miniscule, +21.7% to +21.6%.
Perhaps the bigger story was NASDAQ’s relatively poor showing, +8.9% y/y. NASDAQ has been the traditional frontrunner for years.
The TSX and S&P were also winners on the world stage (Graph 5), although there were some good gains y/y by exchanges in Europe. STOXX Europe was +18.8% y/y; the London FTSE, +16.5%; and the German DAX, +15.2%.
It’s important to note, however, that few of the indices worldwide made headway on a month-to-month basis in January. Only two of the 14 indices set out in Table 2 managed m/m advances, the London FTSE, +1.1% and the Hong Kong Hang Seng, +1.7%. The latter’s uptick should be viewed cautiously, given the Hang Seng’s -15.8% showing year over year.
