Canadian Market Up In Positive Territory; Technology, Healthcare Stocks Shine

RTTNews | hace 550

(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Thursday, with technology stocks posting strong gains, tracking cues from Wall Street after NVIDIA reported strong quarterly results and upbeat revenue guidance.

Healthcare, consumer staples, financials and energy sectors are among the other prominent gainers.

The benchmark S&P/TSX Composite Index is up 143.25 points or 0.66% at 21,315.63 nearly half an hour past noon.

Technology stock Celestica Inc (CLS.TO) is soaring nearly 11%. Computer Modelling (CMG.TO) and Bitfarms (BITF.TO) are gaining 4.3% and 3.5%, respectively. Quarterhill (QTRH.TO), Open Text Corp (OTEX.TO) and CGI Group Inc (GIB.A.TO) are up 2 to 3%.

In the healthcare sector, Bausch Health Companies (BHC.TO) is up 8.25%. The company reported earnings per share of $1.15 for the fourth quarter of 2024, compared to EPS of $1.02 in the year-ago quarter.

Sienna Senier Living (SIA.TO) is gaining nearly 2%, riding on strong fourth quarter results.

Among consumer staples shares, Alimentation Couche-Tard (ATD.TO) is up 2.3%. Jamieson Wellness (JWEL.TO) and George Weston (WN.TO) are gaining 1.3% and 1.2%, respectively.

Loblaw Companies (L.TO) is advancing nearly 2%. Loblaw reported adjusted net earnings were $630 million for the fourth-quarter of 2023, an increase of $55 million, or 9.6%.

Financials shares Nuvei Corp (NVEI.TO), Brookfield Corporation (BN.TO), EQB Inc (EQB.TO) and Brookfield Asset Management (BAM.TO) are up 2 to 3%. Fairfax Financial Holdings (FFH.TO), Goeasy (GSY.TO), Sun Life Financial (SLF.TO) and Manulife Financial (MFC.TO) are advancing 1 to 1.5%.

Enerplus Corp (ERF.TO), up 10.5%, is the top gainer in the Energy sector. Whitecap Resources (WCP.TO) is gaining 3.5% and Paramount Resources (POU.TO) is advancing 2.1%. Precision Drilling Corporation (PD.TO), MEG Energy Corp (MEG.TO), Baytex Energy (BTE.TO), International Petroleum Corp (IPCO.TO) and Canadian Natural Resources (CNQ.TO) are higher by 1 to 1.5%.

Maple Leaf Foods Inc. (MFI.TO) is down more than 6%. The company posted a fourth quarter net loss of C$9.32 million or C$0.08 per share compared to a loss of C$41.5 million or C$0.34 per share, prior year.

Primo Water Corp. (PRMW) reported fourth-quarter net income of $177.6 million, up from last year's $57.5 million. Earnings per share were $1.11, up from $0.36 a year ago. The stock is up marginally.

Loblaw Companies Limited (L.TO) reported adjusted net earnings were $630 million for the fourth-quarter of 2023, an increase of $55 million, or 9.6%.

Quebecor Inc (QBR.TO) is down 4%. The company reported a net income of $141.2 million for the fourth quarter of 2023, compared to net income of $142.5 million in the year-ago quarter.

On the economic front, retail sales in Canada increased 0.9% in December, data from Statistics Canada showed. Year-on-year, retail sales surged 2.9% in December. According to preliminary estimates, retail sales in Canada likely fell 0.4% month-over-month in January 2024.

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | hace 15 minutos

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start 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 18 minutos

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure 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 33 minutos

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | hace 36 minutos

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | hace 48 minutos

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected 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. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | hace 1h 18min

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 1h 48min

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 2h 18min

EURUSD	1.16412	GBPUSD	1.3475	AUDUSD	0.64777
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