Bay Street Likely To Open On Mixed Note; Canadian Inflation Data In Focus

RTTNews | hace 83

(RTTNews) - Canadian shares may open on a mixed note Tuesday morning, with the focus on upcoming interest rate decision from the Bank of Canada and the Federal Reserve. Materials stocks are likely to move up on higher metal prices.

The Bank of Canada is widely expected to lower interest rate by 25 basis points on Wednesday. The Federal Reserve, which is also scheduled to announce its policy tomorrow, is expected to cut rate by 25 basis points.

Canadian inflation data is likely to make a significant impact on the mood this morning.

Data on Canadian inflation is due at 8:30 AM ET.

The annual inflation rate in Canada eased to 1.7% in July, from 1.9% in June, staying beneath the BoC's 2% mid-point for a fourth consecutive month. On a monthly basis, the CPI rose by 0.3% in July, after a 0.1% increase in June and matching market estimates. source: Statistics Canada

Enerflex Ltd. (EFX.TO) announced today that it has appointed Paul Mahoney as President and Chief Executive Officer, effective September 29. The appointment follows a global search process, which included internal and external candidates and was supported by an executive search firm.

Mahoney will take over from interim CEO Preet Dhindsa, who will return to the role as Senior Vice President and CFO.

Canadian stocks moved modestly higher on Monday as investors took to a "wait-and-see" approach as they awaited key meetings of the central banks both in the US and Canada on rate cut plans.

The benchmark S&P/TSX Composite Index ended with a gain of 147.20 points or 0.5% at 29,431.02.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.13 or 0.21% at $63.17 a barrel.

Gold futures are gaining $17.50 or 0.47% at $3,736.50 an ounce, while Silver futures are up $0.228 or 0.53% at $43.190 an ounce.

No Help Yet For Thai Stock Market

The Thai stock market has ticked lower in three straight sessions, sinking more than 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau and it's looking at another soft start again on Tuesday.

RTTNews | hace 1h 27min

Canadian Dollar Falls Against U.S. Dollar

The Canadian dollar declined against the U.S. dollar in the New York session on Monday.

RTTNews | hace 1h 52min

Indonesia Bourse Likely To Remain Rangebound On Tuesday

The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had picked up almost 110 points or 1.3 percent. The Jakarta Composite Index now sits just above the 8,710-point plateau although it's expected to open under pressure on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The JCI finished modestly higher on Monday following gains from the telecom, resource and energy companies, while the financials were mixed and the cement stocks were down. For the day, the index advanced 77.93 points or 0.90 percent to finish at 8,710.70 after trading between 8,642.06 and 8,720.09. Among the actives, Bank CIMB Niaga was down 0.28 percent, while Bank Mandiri climbed 1.02 percent, Bank Danamon Indonesia dropped 0.80 percent, Bank Negara Indonesia added 0.47 percent, Bank Rakyat Indonesia collected 0.55 percent, Indosat Ooredoo Hutchison vaulted 3.83 percent, Indocement sank 0.72 percent, Semen Indonesia lost 0.69 percent, Indofood Sukses Makmur tumbled 1.76 percent, United Tractors plunged4.86 percent, Astra International rose 0.37 percent, Energi Mega Persada skyrocketed 18.67 percent, Astra Agro Lestari fell 0.31 percent, Aneka Tambang rallied 2.06 percent, Vale Indonesia spiked 2.57 percent, Timah shed 0.63 percent, Bumi Resources surged 5.88 percent and Bank Central Asia was unchanged.

RTTNews | hace 1h 57min

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 50,500 level, with weakness in index heavyweights and a mixed performance across most other sectors.

RTTNews | hace 2h 3min

Hong Kong Shares May Take Further Damage On Tuesday

The Hong Kong stock market on Monday ended the two-day winning streak in which it had climbed more than 325 points or 1.3 percent. The Hang Seng Index now sits just above the 25,760-point plateau and it's expected to open to the downside again on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The Hang Seng finished sharply lower on Monday following losses from the financial shares, property stocks and technology companies. For the day, the index stumbled 319.72 points or 1.23 percent to finish at 25,765.36 after trading between 25,755.01 and 26,151.46. Among the actives, Alibaba Group declined 1.03 percent, while Alibaba Health Info skidded 0.92 percent, ANTA Sports cratered 2.69 percent, China Life Insurance fell 0.57 percent, China Mengniu Dairy dropped 0.82 percent, China Resources Land tumbled 1.55 percent, CITIC lost 0.65 percent, CNOOC tanked 2.26 percent, CSPC Pharmaceutical plunged 2.85 percent, Galaxy Entertainment added 0.70 percent, Haier Smart Home stumbled 1.77 percent, Hang Lung Properties retreated 1.44 percent, Henderson Land retreated 1.71 percent, Hong Kong & China Gas slumped 0.97 percent, Industrial and Commercial Bank of China plummeted 3.48 percent, JD.com shed 0.68 percent, Lenovo sank 0.80 percent, Li Auto was down 0.36 percent, Li Ning and Xiaomi Corporation both slipped 0.47 percent, Meituan gained 0.45 percent, New World Development climbed 1.13 percent, Nongfu Spring surrendered 2.12 percent, Techtronic Industries crashed 2.29 percent and WuXi Biologics advanced 0.98 percent.

RTTNews | hace 2h 12min

Rally May Stall For China Stock Market

The China stock market has moved higher in back-to-back sessions, advancing almost 50 points or 1.3 percent along the way. The Shanghai Composite Index now sits just above the 3,920-point plateau although it may be stuck in neutral on Tuesday.

RTTNews | hace 2h 27min

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,600 level, with a mixed performance across most sectors ahead of the domestic interest rate decision later in the day.

RTTNews | hace 2h 34min

Taiwan Stock Market Due For Profit Taking

The Taiwan stock market has moved higher in five straight sessions, gathering almost 950 points or 3.5 percent along the way. The Taiwan Stock Exchange now sits just above the 28,300-point plateau although investors figure to lock in gains on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The TSE finished sharply higher on Monday following gains from the financial shares and technology stocks. For the day, the index rallied 322.89 points or 1.15 percent to finish at the daily high of 28,303.78 after trading as low as 28,026.39. Among the actives, Cathay Financial collected 0.44 percent, while Mega Financial sank 0.73 percent, CTBC Financial dipped 0.16 percent, First Financial rose 0.36 percent, Fubon Financial added 0.63 percent, E Sun Financial soared 4.40 percent, Taiwan Semiconductor Manufacturing Company rallied 2.40 percent, United Microelectronics Corporation improved 0.82 percent, Hon Hai Precision gained 0.43 percent, Largan Precision tumbled 1.87 percent, Catcher Technology tanked 2.98 percent, MediaTek climbed 1.05 percent, Novatek Microelectronics shed 0.52 percent, Formosa Plastics lost 0.59 percent, Asia Cement perked 0.13 percent and Delta Electronics and Nan Ya Plastics were unchanged. The lead from Wall Street is weak as the major averages opened mixed but quickly headed south and spent the balance of the session well under water.

RTTNews | hace 2h 57min

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