Bay Street Likely To Open With Positive Bias

RTTNews | vor 987 Tagen

(RTTNews) - The Canadian market, where trading is set to resume after a long holiday break, is likely to open with a positive bias on Wednesday, tracking somewhat steady European markets.

However, weak commodity prices might limit market's upside.

Although China's decision to ease restrictions for travelers coming into the country buoyed up European stocks on Tuesday, concerns about a surge in new Covid cases in the world's second largest economy is likely to weigh on sentiment.

In Canadian company news, First Quantum Minerals Ltd. (FM.TO) said formal discussions between First Quantum, MPSA and the Government of Panamá have resumed on December 26, 2022 regarding the long-term future of the Cobre Panamá mine. The Company said it remains committed to seeking a mutually beneficial agreement as soon as possible.

The Canadian market ended on a firm note on Friday, thanks to some strong buying in the energy sector as oil prices firmed on supply concerns. The benchmark S&P/TSX Composite Index ended with a gain of 156.99 points or 0.81% at 19,506.65.

Asian stocks ended broadly lower on Wednesday as Treasury yields rose on Fed policy uncertainty and data showed Japan's industrial output fell for the third month in a row in November - suggesting the economy is still very fragile.

Investors pinned hopes of a recovery in demand after China moved to remove some of its most stringent travel restriction measures.

European stocks are up in positive territory with U.K. stocks outperforming as trading resumed after a long holiday weekend.

After China announced the re-opening of borders in a major shift of its epidemic response policies, several countries have announced safety measures like testing and medical scrutiny of passengers, coming from China and other countries where the virus is prevalent.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.36 or about 0.45% at $79.17 a barrel.

Gold futures are down $10.90 or 0.6% at $1,812.20 an ounce, while Silver futures are lower by $0.117 or 0.48% at $24.100 an ounce.

Antipodean Currencies Rise Amid Risk-on Mood

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against other major currencies in the Asian session on Wednesday, amid growing optimism about the outlook for interest rates after sharp downward revisions in U.S. jobs data and ahead of the release of the closely watched US inflation data later in the week. Currencies in the region also strengthened against the US dollar.

RTTNews | vor 27 Minuten

NZ Dollar Advances Against Most Majors

The New Zealand dollar strengthened against most major currencies in the Asian session on Wednesday.

RTTNews | vor 1Std 0 Minuten

Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

RTTNews | vor 1Std 4 Minuten

China Falls Back Into Deflation; PPI Continues To Decline

China's consumer prices declined more than expected in August on weaker demand and producer prices continued to fall, strengthening calls for more actions to bolster domestic consumption amid slowing exports growth. The consumer price index dropped 0.4 percent from a year ago after remaining flat in July, the National Bureau of Statistics reported Wednesday. Prices were expected to fall 0.2 perc

RTTNews | vor 1Std 19 Minuten

European Markets Seen Opening Positive On Wednesday

Stock markets in Europe are expected to open on a mildly positive note on Wednesday amidst the strong rally in Wall Street on Tuesday fueled by Fed rate cut hopes.

RTTNews | vor 3Std 2 Minuten

European Economic News Preview: Italy Industrial Output Data

Industrial production from Italy and Spain are the major economic reports due on Wednesday. At 2.00 am ET, Statistics Norway publishes consumer prices for August. In July, inflation advanced to 3.3 percent from 3.0 percent in June. At 3.00 am ET, Statistics Spain is set to issue industrial production data for July. Output had climbed 2.3 percent on a yearly basis in June.

RTTNews | vor 3Std 44 Minuten

Sensex, Nifty Up Firmly In Positive Territory; IT Stocks Shine Again

Indian stocks are up firmly in positive territory Wednesday morning after a bright start, with technology and PSU bank stocks hogging the limelight. Expectations of more reductions in GST rates, and reports about prospects of trade talks between India and the U.S. contribute to the positive mood in the markets.

RTTNews | vor 3Std 49 Minuten

Australian Market Extends Early Gains In Mid-market

The Australian market is extending its early gains in mid-market moves on Wednesday after opening in the red, reversing some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying above the 8,800 level, following the broadly positive cues from Wall Street overnight, with gains in financial and technology stocks partially offset by weakness in mining and energy stocks.

RTTNews | vor 5Std 48 Minuten

EURUSD	1.17031	GBPUSD	1.35345	AUDUSD	0.66044
USDJPY	147.478	USDCAD	1.38485	USDCHF	0.79729