Canadian Market Holds Early Gains, Looks Headed For Firm Close

RTTNews | vor 467 Tagen

(RTTNews) - After a positive start and a subsequent retreat, the Canadian market is up again on Wednesday, with st0cks from utilities, real estate and technology sectors gaining ground on strong buying support.

Investors are digesting the latest batch of economic data from Canada and the U.S., including a reading on consumer price inflation in the world's largest economy.

The benchmark S&P/TSX Composite Index was down 71.34 points or 0.32% at 22,314.68 a little while ago.

On the economic front, data from Canada Mortgage & Housing Corporation said housing starts in Canada fell slightly by 0.87% over a month earlier to 240,229 units in April.

Data from Statistics Canada showed the nation's manufacturing sales fell by 2.1% from a month earlier to C$ 69.9 billion in March, less than the previously estimated drop of 2.8%. Sales had dropped by 0.7% in February. On yearly basis, total sales were down 3.1% in March.

Data from the Labor Department showed consumer prices in the U.S. rose by slightly less than expected in the month of April, increasing by 0.3%, after rising by 0.4% in March. Economists had expected consumer prices to climb by another 0.4%.

The report also said the annual rate of consumer price growth slowed to 3.4% in April from 3.5% in March, in line with expectations. The annual rate of core consumer price growth decelerated to 3.6% in April from 3.8% in March. The slowdown also matched estimates.

Boralex Inc. (BLX.TO) soared nearly 10%. The company reported first-quarter net earnings of $73 million, up $28 million from a year ago.

Celestica Inc (CLS.TO) surged 7.5%, while Bombardier Inc (BBD.A.TO), Sprott Inc (SII.TO), West Fraser Timber (WFG.TO) and Colliers International (CIGI.TO) are up 2.3 to 4%. Morguard Corporation (MRC.TO) and goeasy (GSY.TO) are also up sharply.

Snc-Lavalin Group (ATRL.TO) is down 3%. The company reported adjusted net income of $73.8 million, or $0.42 per diluted share for the first quarter of 2024, compared to $55.4 million, or $0.32 per diluted share in the first quarter of the previous year.

Boyd Group Services (BYD.TO) is lower by 6.25%. The company reported net earnings decreased to $8.4 million in the first quarter of 2024, compared with $20.8 million in the same period of 2023.

CCL Industries (CCL.A.TO), Docebo Inc (DCBO.TO), Molson Coors Canada Inc (TPX.B.TO), Methanex Corporation (MX.TO), CCL Industries (CCL.B.TO) and Imperial Oil (IMO.TO) are down 1 to 2.3%.

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | vor 18 Minuten

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | vor 48 Minuten

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 18 Minuten

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 48 Minuten

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | vor 2Std 3 Minuten

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 2Std 18 Minuten

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | vor 3Std 18 Minuten

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | vor 4Std 30 Minuten

EURUSD	1.16376	GBPUSD	1.34708	AUDUSD	0.64874
USDJPY	147.326	USDCAD	1.38505	USDCHF	0.80435