Bay Street Likely To Open With Positive Bias

RTTNews | Před 853 dny

(RTTNews) - The Canadian market may open with a positive bias on Wednesday, as technology shares are likely to see some buying after U.S. tech majors Microsoft and Alphabet reported stronger than expected quarterly earnings.

Activity may well remain stock specific with investors reacting to a slew of earnings announcements from Canadian companies.

Precision Drilling Corp. (PD.TO) reported first quarter net earnings of C$96 million or C$5.57 per share compared with a net loss of C$44 million or a C$3.25 loss per share in the first quarter of 2022.

Cenovus Energy Inc (CVE.TO) reported net earnings of $636 million for the quarter ended March 31, 2023, compared with net earnings of $784 million in the corresponding quarter of the previous year.

Rogers Communications Inc (RCI.A.TO) reported adjusted net income of $553 million for the three months ended March 31, 2023, compared with adjusted net income of $462 million a year ago.

CGI Inc (GIB.A.TO) reported net earnings of $419.4 million inthe second-quarter of its current financial year, up $12.7% from a year ago.

FirstService Corp (FSV.TO) reported consolidated revenues of $1.02 billion for the first quarter, up 22% relative to the same quarter in the prior year.

The Canadian market ended sharply lower on Tuesday, dragged down by losses in energy, financials, industrials and technology stocks. Concerns about turmoil in the banking sector resurfaced after First Republic reported a loss of more than $100 billion in deposits in the first quarter. Disappointing results from several other U.S. companies to hurt sentiment.

The benchmark S&P/TSX Composite Index ended with a loss of 236.87 points or 1.15% at 20,439.87, a six-week closing low.

Asian stocks ended weak on Wednesday, although regional losses remained capped by consensus-beating earnings results from tech giants Microsoft and Alphabet. Economic jitters and interest rate concerns weighed on sentiment.

European stocks are down firmly in negative territory, weighed down by weak U.S. economic data and worries about interest rates and banking sector jitters.

In commodities trading, West Texas International Crude oil futures are down $0.21 or 0.27% at $76.86 a barrel.

Gold futures are up $1.30 or 0.07% at $2,005.80 an ounce, while Silver futures are gaining $0.243 or 0.98% at $25.125 an ounce.

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

RTTNews | Před 47 minutami

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.

RTTNews | Před 51 minutami

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

RTTNews | Před 2 h 17 min

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

RTTNews | Před 2 h 36 min

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | Před 2 h 47 min

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

RTTNews | Před 2 h 53 min

Hong Kong Shares Expected To Open To The Upside

The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

RTTNews | Před 3 h 2 min

Higher Open Called For China Stock Market

The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.

RTTNews | Před 3 h 17 min

EURUSD	1.16167	GBPUSD	1.34529	AUDUSD	0.64864
USDJPY	147.937	USDCAD	1.38424	USDCHF	0.80523