Canadian Market Down In Negative Territory Despite Soft Inflation Data

RTTNews | vor 645 Tagen

(RTTNews) - Despite soft inflation data, the Canadian market is down in negative territory a little past noon on Tuesday, weighed down by losses in consumer discretionary, industrials and utilities sectors.

Technology and consumer staples shares are also weak. Materials shares are gaining, lifted by higher bullion prices.

The benchmark S&P/TSX Composite Index is down 97.09 points or 0.48% at 20,149.38 a few minutes past noon.

Stelco Holdings (STLC.TO) is down 7.6%. George Weston (WN.TO) is down 4% after reporting a 31.4% drop in third quarter net earnings.

Bombardier Inc (BBD.B.TO), Magna International (MG.TO), Linamar Corporation (LNR.TO), Precision Drilling Corporation (PD.TO) and Waste Connections (WCN.TO) are down 3 to 4%.

BRP Inc (DOO.TO), Stantec Inc (STN.TO), Restaurant Brands International (QSR.TO) and WSP Global (WSP.TO) are lower by 1 to 2.5%.

Alamos Gold (AGI.TO), Eldorado Gold Corporation (ELD.TO), Osisko Gold Royalties (OR.TO) and Wheaton Precious Metals (WPM.TO) are up 3 to 5%.

Newmont Corporation (NGT.TO), Agnico Eagle Mines (AEM.TO), Sprott Inc (SII.TO), Cargojet Inc (CJT.TO) and Colliers International (CIGI.TO) are also notably higher.

Data from Statistics Canada showed the annual inflation rate in Canada fell to 3.1% in October of 2023 from 3.8% in the previous month. The result was softer than the Bank of Canada's forecast that inflation is likely to remain close to 3.5% through the middle of next year.

The core inflation rate fell slightly to 2.7%, while the closely-watched trimmed-mean core rate dropped to 3.5%, compared to expectations of 3.7%. From the previous month, consumer prices edged 0.1% higher.

Meanwhile, new home prices in Canada fell by 0.8% from the previous year in October, following a 1% drop in September and marking the seventh consecutive decrease since November 2019.

New home prices in Canada remained unchanged month-on-month in October 2023, following a 0.2% drop in September and in line with market forecasts.

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | vor 50 Minuten

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

RTTNews | vor 1Std 5 Minuten

Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

RTTNews | vor 1Std 35 Minuten

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

RTTNews | vor 1Std 47 Minuten

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

RTTNews | vor 1Std 55 Minuten

Thai Bourse May Halt Losing Streak On Thursday

The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.

RTTNews | vor 2Std 4 Minuten

Australian Market Slightly Lower

The Australian market is slightly lower in choppy trading on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | vor 2Std 12 Minuten

Indonesia Shares Tipped To Open In The Green

The Indonesia stock market has moved higher in two of three trading days since the end of 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 7,935-point plateau and it may add to its winnings on Thursday.

RTTNews | vor 2Std 34 Minuten

EURUSD	1.1641	GBPUSD	1.35082	AUDUSD	0.65128
USDJPY	147.13	USDCAD	1.37783	USDCHF	0.80144