Canadian Market Likely To Open Higher

RTTNews | hace 525

(RTTNews) - Bay Street is seen opening on a positive note on Monday, tracking steady crude oil and bullion prices, and positive European markets. The mood is likely to remain cautious with investors awaiting Federal Reserve's monetary policy decision, due on Wednesday.

Sierra Metals Inc (SMT.TO) reported a net loss of $13.7 million for the fourth quarter of 2023, compared to net loss of $26.5 million in the year-ago quarter.

Africa Oil Corp. (AOI.TO) said Monday that it has made a cash offer to acquire from minority shareholders in Impact Oil and Gas Ltd. up to 8.0% of the issued shares in Impact. The Offer is made for US$0.728 per Impact share, for a consideration of up to about US$64 million, which implies a valuation of US$805 million for 100% of the company.

CI Financial Corp (CIX.TO), a diversified global asset and wealth management company, reported a 17.1% surge in preliminary total assets to $465.8 billion as at February 29, 2024), from $397.8 billion as February 2023.

On the economic front, data from Statistics Canada showed, industrial producer prices in Canada rose by 0.7% over a month in February, after four consecutive months of declines. On yearly basis, producer prices decreased by 1.7% in February after a 2.9% drop in the prior month.

Raw materials prices increased by 2.1% month-over-month in February, from 1.2% in January. Year-on-year, raw materials prices fell by 4.7% in February.

The Canadian market ended marginally up on Friday, supported by gains in healthcare, materials and utilities sectors. The mood in the market remained cautious with investors looking ahead to U.S. central bank's monetary policy meeting.

The benchmark S&P/TSX Composite Index, which dropped to 21,788.67 about an hour past noon, ended the day's session at 21,849.15, gaining 19.30 points or 0.09%. The index gained about 0.51% in the week.

Asian stocks ended mostly higher on Monday as Chinese industrial output and retail sales figures beat estimates and investors looked ahead to a slew of central bank decisions. Chinese markets ended higher as mixed economic data helped to keep hopes for stimulus alive.

European stocks are modestly higher with investors reacting to data showing a drop in eurozone inflation in February, and awaiting Federal Reserve's monetary policy announcement due later in the week.

In commodities, West Texas Intermediate Crude oil futures are up $0.33 or 0.41% at $81.37 a barrel.

Gold futures are gaining $3.50 or 0.17% at $2,165.00 an ounce, while Silver futures are up $0.104 or 0.41% at $25.485 an ounce.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 15 minutos

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 45 minutos

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | hace 1h 1min

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 16min