Canadian Market Down Marginally At Noon

RTTNews | vor 548 Tagen

(RTTNews) - The Canadian market is down marginally around noon on Wednesday with investors reacting to quarterly earnings updates and looking ahead to crucial economic data from the U.S. and Canada for more clues about the outlook for interest rates.

The benchmark S&P/TSX Composite Index is down 5.95 points or 0.03% at 21,312.93 a few minutes past noon.

National Bank of Canada (NA.TO) is gaining 3.25%. The bank reported first-quarter net income of $922 million, up 5% from $876 million in the first quarter of 2023. First-quarter diluted earnings per share stood at $2.59 compared to $2.47 in the first quarter of 2023.

Royal Bank of Canada (RY.TO) is up 0.6%. The bank reported net income of $3.6 billion for the quarter ended January 31, 2024, up $449 million or 14% from the prior year. Adjusted net income was $4.1 billion in the first quarter, down 5% from a year ago.

Nuvei Corp (NVEI.TO) is up 3.5%, and Fairfax Financial Holdings (FFH.TO) is advancing nearly 2%. Bank of Montreal (BMO.TO), Sun Life Financial (SLF.TO), Onex Corp (ONEX.TO) and CDN Western Bank (CWB.TO) are modestly higher.

George Weston Ltd (WN.TO) reported adjusted net earnings of $342 million for the fourth quarter of 2023, down $27 million or 7.3% from the year-ago quarter. The stock is down marginally.

MDA Ltd. (MDA.TO) is gaining 2% after the company reported fourth-quarter earnings of C$13.5 million, up from C$8.8 million in the year-ago quarter. The company expects revenue of C$205 million to C$215 million in the first quarter of the current year.

ATS Corporation (ATS.TO), West Fraser Timber (WFG.TO), Boyd Group (BYD.TO), Kinaxis Inc (KXS.TO) and WSP Global (WSP.TO) are up with sharp to moderate gains.

Parkland Corporation (PKI.TO) is down more than 7%. Stelco Holdings (STLC.TO), Alimentation Couche-Tard (ATD.TO), Badger Infrastructure (BDGI.TO), Russel Metals (RUS.TO), Cameco Corporation (CCO.TO), Cargojet (CJT.TO), Cogeco Communications (CCA.TO) and Docebo Inc (DCBO.TO) are down 1 to 2%.

Data from Statistics Canada showed the nation's seasonally adjusted current account deficit narrowed to C$ 1.62 billion in the fourth quarter of 2023 from the upwardly revised gap of C$ 4.74 billion in the previous period.

A separate data from Statistics Canada showed average weekly earnings of non-farm payroll employees in Canada rose by 3.8% year-on-year to $1,212 in December 2023, slowing from a revised 3.9% growth in the previous month.

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | vor 2Std 16 Minuten

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 | vor 2Std 53 Minuten

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | vor 3Std 21 Minuten

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 | vor 6Std 6 Minuten

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 6Std 25 Minuten

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 7Std 8 Minuten

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 7Std 38 Minuten

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 | vor 7Std 50 Minuten

EURUSD	1.1694	GBPUSD	1.35102	AUDUSD	0.6541
USDJPY	147.0	USDCAD	1.37421	USDCHF	0.80034