Bay Street Likely To Open On Weak Note

RTTNews | hace 818
Bay Street Likely To Open On Weak Note

(RTTNews) - Canadian shares are likely to open on a negative note on Thursday, tracking a sell-off in European markets, and weak crude oil prices, amid rising concerns about the crisis in the financial sector.

Following the terrible collapse of Silicon Valley Bank and Signature Bank in the U.S., global stocks are taking a severe hammering now following reports about Swiss banking giant Credit Suisse's short-term debt woes.

Credit Suisse shares are plunging following Saudi National Bank saying it would not be able to offer more financial help. Several bank stocks in Europe, including BNP Paribas, Commerzbank, Societe Generale and Deutsche Bank suffered sharp losses this morning.

U.S. index futures are down sharply, and the Canadian S&P/TSX futures are falling as well, pointing to a weak opening on Bay Street.

The Canadian market ended on a firm note on Tuesday despite paring most of its early gains. The mood was positive as data showing U.S. consumer prices rising in line with expectations in February supported expectations for a smaller rate hike by the Federal Reserve this month.

The benchmark S&P/TSX Composite Index ended with a gain of 105.26 points or 0.54% at 19,694.16, snapping a three-day losing streak.

Asian stocks closed higher on Wednesday as data showing a recovery in China's economic activity helped outweigh concerns about U.S. bank contagion fears.

European stocks are plunging sharply with investors keeping a close eye on the developments surrounding the SVB crisis, and the debt woes of Swiss bank Credit Suisse.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.26 or 1.77% at $70.07 a barrel.

Gold futures are gaining $17.30 or about 0.91% at $1,928.20 an ounce, while Silver futures are up $0.290 or 1.3% at $22.330 an ounce.

read more
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | hace 38 minutos
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | hace 1h 4min
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | hace 1h 8min
Higher Open Expected For Hong Kong Shares

Higher Open Expected For Hong Kong Shares

The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,160-point plateau and it's likely to remain rangebound on Wednesday.
RTTNews | hace 1h 23min
Australian Market Notably Higher

Australian Market Notably Higher

Australian shares are trading notably higher on Wednesday, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,600 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by energy and technology stocks.
RTTNews | hace 1h 28min
Taiwan Shares Tipped To Open In The Green On Wednesday

Taiwan Shares Tipped To Open In The Green On Wednesday

The Taiwan stock market has moved higher in back-to-back sessions, accelerating more than 580 points or 2.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,240-point plateau and it has a positive lead again for Wednesday's trade.
RTTNews | hace 2h 8min
Singapore Shares May Reverse Tuesday's Losses

Singapore Shares May Reverse Tuesday's Losses

The Singapore stock market on Tuesday halted the five-day winning streak in which it had collected more than 40 points or 1 percent. The Straits Times Index now sits just beneath the 3,935-point plateau although it may bounce higher again on Wednesday.
RTTNews | hace 2h 38min