TSX Snaps 5-day Winning Streak, Ends Marginally Down

RTTNews | vor 540 Tagen

(RTTNews) - After five successive days of gains, the Canadian market ended marginally down on Wednesday, recovering well after an early tumble thanks to some strong buying at select counters post mid afternoon.

The market fell sharply in early trades as technology stocks tumbled on some weak results, particularly from Shopify Inc. Utilities, consumer staples, financials and real estate stocks found support, contributing significantly to market's recovery from lower levels.

The benchmark S&P/TSX Composite Index, which fell nearly 250 points to 22,048.94, recovered to settle at 22,259.16, down just 31.46 points or 0.14%.

Shopify Inc (SHOP.TO) shares tanked 18.5% after the company reported a net loss of $273.00 million for the quarter ended March 2024, compared to net profit of US$68.00 million in the year-ago quarter. NexGen Energy (NXE.TO) plunged more than 12%. The company announced that it has entered into a binding term sheet with MMCap International Inc. for the purchase of 2,702,410 pounds natural uranium concentrate for an aggregate purchase price of US$250 million.

Aritzia Inc (ATZ.TO) ended 4.2% down. Methanex Corporation (MX.TO) and Cameco Corporation (CCO.TO) closed lower by about 3% and 2.1%, respectively. Bombardier Inc (BBD.B.TO) and Teck Resources (TECK.A.TO) also declined sharply.

Stella-Jones (SJ.TO) soared nearly 11% after the company reported a net income of $77 million or $1.36 per share for the first quarter of 2024, up 32% from the year-ago quarter.

Altus Group (AIF.TO) rallied 4.3%. Celestica Inc (CLS.TO), goeasy (GSY.TO), West Fraser Timber (WFG.TO) and CCL Industries (CCL.A.TO) gained 3 to 3.5%.

WSP Global (WSP.TO), Constellation Software (CSU.TO), George Weston (WN.TO), Loblaw Companies (L.TO) and Intact Financial Corporation (IFC.TO) ended higher by 1 to 2%.

Nuvei Corporation (NVEI.TO) reported adjusted net income of $62.5 million for the first quarter, down 3% from $64.5 million a year ago. The stock gained about 0.5%.

B2Gold Corp (BTO.TO) gained 2%. The company posted a net income of $48.5 million in the first quarter of 2024, compared to $102 million in the year-ago quarter.

Goeasy Ltd. (GSY.TO) reported a net income of $58.9 million for the first quarter, up 15% from $51.4 million in the same period of 2023. The stock climbed 3.3%.

Suncor Energy (SU.TO) gained nearly 0.5% after the company reported adjusted operating earnings of $1,817 million for the first quarter of 2024, compared to $1,809 million a year ago.

Swiss Market Settles Slightly Down

The Switzerland market ended slightly down on Thursday, after languishing in the red almost right through the day's session, with investors reacting to corporate earnings updates, and a report showing signs of an improved outlook in the Swiss economy.

RTTNews | vor 2Std 20 Minuten

European Stocks Close On Mixed Note After Central Bank Decisions, Earnings Deluge

European stocks turned in a mixed performance on Thursday as investors reacted to a slew of corporate earnings announcements from the region, and digested the interest rate decisions of the Federal Reserve, the European Central Bank and the Bank of Japan.

RTTNews | vor 2Std 41 Minuten

ECB Holds Interest Rates Steady Amid Uncertain Outlook

The European Central Bank maintained its key interest rates unchanged for a third policy session in a row on Thursday, as expected, as policymakers assessed that the outlook was broadly unchanged, but still uncertain due to global trade conflicts and geopolitical tensions.

RTTNews | vor 6Std 22 Minuten

Eurozone GDP Growth Beats Expectations

The euro area economy expanded at a faster pace in the third quarter as France and Spain reported strong growth, while Germany and Italy experienced stagnation, amid a highly uncertain outlook due to the ongoing trade policies and political instability. Gross domestic product climbed 0.2 percent sequentially in the September quarter, preliminary flash estimate from Eurostat showed on Thursday.

RTTNews | vor 7Std 7 Minuten

Bay Street Likely To Open Weak

Weak commodity prices, lower European stocks and U.S. and Canadian futures point to a negative start for the Canadian market on Thursday. The Federal Reserve and Bank of Canada lowered interest rates on Wednesday but have ruled out the possibility of another cut this year.

RTTNews | vor 8Std 0 Minuten

German Economy Stagnates On Weaker Exports; Unemployment Falls

The German economy stagnated in the third quarter, narrowly dodging a recession as higher U.S. tariffs damped exports and the optimism about the fiscal stimulus faded, while unemployment logged an unexpected moderate fall. Gross domestic product remained unchanged, as expected, following a revised decline of 0.2 percent in the second quarter, the preliminary estimate from Destatis revealed on T

RTTNews | vor 8Std 3 Minuten

FTSE 100 Moderately Lower; WPP Tanks On Lower Earnings, Forecast

The UK stock market is down in negative territory on Thursday, mirroring the trend in other major European markets, as investors react to the latest batch of earnings announcements from the domestic and global front, and some regional economic data.

RTTNews | vor 8Std 52 Minuten

CAC 40 Drifts Lower; Investors React To Earnings And Await ECB Policy

France's benchmark index CAC 40 is down in negative territory on Thursday with investors reacting to a slew of earnings updates and regional economic data, the Federal Reserve's interest rate cut and the warning that no further reduction is likely this year.

RTTNews | vor 9Std 48 Minuten

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