Bay Street Likely To Open On Positive Note

RTTNews | vor 2 Tagen
Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares are likely to open on a positive note on Wednesday, riding on strong earnings from Royal Bank of Canada and National Bank of Canada. Weak commodity prices and concerns on the geopolitical and tariffs front may weigh limit market's upside.

Royal Bank of Canada (RY.TO) reported third quarter net income of C$5.4 billion, up 21% from prior year. EPS was C$3.75, up 21%. Adjusted net income and adjusted EPS of C$5.5 billion and C$3.84 were up 17% and 18%, respectively.

National Bank of Canada reported third quarter net income of C$1.065 billion, up 3% from a year ago. Earnings per share was C$2.58 compared to C$2.89. Excluding items, adjusted net income was at C$1.104 billion, up 15% from prior year. Adjusted earnings per share was C$2.68, stable compared to last year.

The Canadian market ended on a firm note on Tuesday, recovering from recent losses. The benchmark S&P/TSX Composite Index climbed 169.94 points or 0.6% to 28,339.88, reaching a new record closing high.

Asian stocks turned in a mixed performance on Wednesday with investors assessing China's industrial profits data. The data showed profits slipped 1.5% from a year earlier in July.

The major European stocks are mixed in cautious trade with investors awaiting fresh directional clues.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.07 or 11% at $63.18 a barrel.

Gold futures are down $7.70 or 0.22% at $3,425.30 an ounce, while Silver futures are lower by $0.251 or 0.65% at $38.355 an ounce.

read more
Chicago Business Barometer Slumps Much More Than Expected In August

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 | vor 19 Minuten
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase 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. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | vor 1Std 2 Minuten
German Unemployment Exceeds 3 Mln

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 | vor 1Std 32 Minuten
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | vor 2Std 45 Minuten
FTSE 100 Weak Again, Looks Headed For Weekly Loss

FTSE 100 Weak Again, Looks Headed For Weekly Loss

U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | vor 3Std 18 Minuten