Bay Street May Open On Positive Note Again
(RTTNews) - Canadian stocks may open higher on Wednesday amid optimism about an end to the U.S. government shutdown. Firm European stocks and expectations of an interest rate cut by the Federal Reserve next month may also help underpin sentiment.
Loblaw Companies (L.TO) reported earnings per share of $0.69 in the third quarter, compared to $2.50 per share in the year-ago quarter. The company raised its adjusted earnings per share growth guidance for the full-year 2025, based on its year to date operating and financial performance and momentum exiting the third quarter.
Manulife Financial, Power of Canada, Pan American Silver Corp., Northland Power, Linamar and Ecn Capital are scheduled to announce their earnings later in the day.
Data from Statistics Canada showed building permits in Canada increased to 4.5% in September, from -4% in August.
The Canadian market ended modestly higher on Tuesday, lifted by gains in energy, real estate and communications sectors.
The benchmark S&P/TSX Composite Index settled with a gain of 92.62 points or 0.31% at 30,409.25.
In commodities trading, West Texas Intermediate Crude oil futures are down $0.43 or 0.7% at $60.61 a barrel.
Gold futures are gaining $14.30 or 0.35%, while Silver futures are up $0.836 or 1.65% at $51.580 an ounce.
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