Canadian Shares Likely To Open On Mixed Note

RTTNews | vor 1132 Tagen

(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday, with investors tracking weak European stocks and higher crude oil prices.

Worries about tighter monetary policies from central banks, and fears about a recession might weigh on stocks and limit any upside during the course of the session.

In company news, Corus Entertainment Inc (CJR.B.TO) reported net income attributable to shareholders of $29.6 million ($0.14 per share basic) for the third quarter and $122.0 million ($0.59 per share basic) year-to-date. The company announced that its consolidated revenue increased 8% for the quarter and 6% year-to-date.

TELUS Corp.(T.TO) announced that its subsidiary has entered into a purchase agreement to acquire shares in TELUS International (Cda) Inc. As per the agreement, TELUS will buy 3 million multiple voting shares of TELUS International from Baring Private Equity Asia or BPEA.

The Canadian market ended weak on Tuesday despite opening on a firm note and holding in positive territory till a little before noon. The benchmark S&P/TSX Composite Index, which climbed to 19,500.89 earlier in the session, ended the day at 19,222.74, down 35.58 points or 0.18% from the previous close.

Asian stocks ended lower on Wednesday as investors fretted over high inflation and the possibility of a recession. Risk-off sentiment boosted the safe-haven dollar while crude prices declined after a three-day rally.

European stocks are down firmly in negative territory Wednesday afternoon, losing ground after three successive days of gains. Investors are eyeing speeches by European Central Bank President Christine Lagarde at the Sintra forum, alongside Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Baile at the Sintra Forum.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.51 or 1.35% at $113.27 a barrel.

Gold futures are gaining $6.50 or 0.36% at $1,827.70 an ounce, while Silver futures are up $0.104 or 0.5% at $20.910 an ounce.

U.S. Factory Orders Pull Back Sharply In June

After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.

RTTNews | vor 2Std 49 Minuten

Weak Jobs Data Limits Dollar's Rebound

A smaller-than expected addition to non-farm payrolls curtailed the dollar's rally fueled by a hawkish Fed stance, higher-than-expected PCE-inflation readings, as well as anxiety ahead of the U.S.-China trade talks and the looming trade tariff deadline.

RTTNews | vor 2Std 51 Minuten

Eurozone Investor Sentiment Weakens Unexpectedly

Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.

RTTNews | vor 4Std 9 Minuten

Bay Street Seen Opening On Cautious Note

Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.

RTTNews | vor 4Std 17 Minuten

FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%

The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.

RTTNews | vor 5Std 8 Minuten