TSX Rises For 7th Straight Session, Ends 0.9% Up

RTTNews | Před 879 dny

(RTTNews) - The Canadian market ended on a strong note on Monday, lifted by gains in energy and materials shares.

Energy stocks were in demand as oil prices rose sharply today after the Organization of the Petroleum Exporting Countries and allies' decided to cut crude output by 1.16 million barrels from May.

West Texas Intermediate Crude oil futures for May ended higher by $4.75 or about 6.3% at $80.42 a barrel.

Materials shares climbed higher, tracking firm gold prices.

The benchmark S&P/TSX Composite Index ended with a gain of 178.39 points or 0.89% at 20,278.28, extending gains to a seventh straight session.

On the economic front, data released by Markit Economic showed the S&P Global Canada Manufacturing PMI dropped to 48.6 in March 2023 from a seven-month high of 52.4 in February. The latest reading indicated a renewed contraction in the country's factory sector that was the steepest since June 2020 after two consecutive months of expansion.

The Energy Capped Index surged 5.37%. International Petroleum Corp (IPCO.TO) rallied more than 9%. MEG Energy Corp (MEG.TO) gained nearly 9% and Cenovus Energy (CVE.TO) climbed 8.2%. Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Paramount Resources (POU.TO), Enerplus Corp (ERF.TO), Nuvista Energy (NVA.TO), Canadian Natural Resources (CNQ.TO) and Imperial Oil (IMO.TO) gained 6 to 7%.

The Materials Capped Index climbed 2.2%. Teck Resources (TECK.B.TO) soared nearly 19%. The company has rejected unsolicited acquisition proposal from Glencore Plc, stating rival's all-stock offer is inferior to its own planner separation.

First Quantum Minerals (FM.TO), Lundin Gold (LUG.TO), Iamgold (IMG.TO), Dundee Precious Metals (DPM.TO), Eldorado Gold (ELD.TO) and Franco-Nevada Corp (FNV.TO) gained 2.5 to 4%.

Bank stocks Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO) and National Bank of Canada (NA.TO) ended with sharp to moderate gains.

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RTTNews | Před 1 h 41 min

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | Před 2 h 17 min

European Stocks Close Lower On Geopolitical Tensions

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RTTNews | Před 2 h 46 min

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | Před 5 h 30 min

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | Před 5 h 49 min

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RTTNews | Před 6 h 32 min

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | Před 7 h 2 min

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | Před 7 h 15 min

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